Calcutta HC okays RDB demerger

Real estate company RDB Industries Ltd today said that the scheme of arrangement between it and RDB Realty & Infrastrcuture has been approved by the High Court of Calcutta.

By virtues of the said order, RDB said it will hive off its realty division to RDB Realty & Infrastructure and shareholders will get one fully paid-up equity shares of Rs 10 each of the demerged company RDB Realty & Infrastructure against one equity shares presently held by them in the company.