At meeting held on 15 September 2014
Mastek announced that the Board of Directors of the Company at its meeting held on 15 September 2014, has approved the demerger of the Insurance Products and Services business of Mastek into Minefields Computers, to be renamed as Majesco followed by transfer of the offshore insurance operations by Majesco to Majesco Software and Solutions India (MSS India), a wholly owned subsidiary of MajescoMastek Insurance Software and Solutions Inc. (MM ISS) (Proposed Restructuring) in terms of a Scheme of Arrangement under Sections 391-394 of the Companies Act, 1956 (Scheme). The Scheme of Arrangement will be subject to various statutory approvals, including those from the shareholders and the lenders / creditors of Mastek Limited.Powered by Capital Market - Live News
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