Board of Bhagyanagar India approves scheme of arrangement

At meeting held on 12 October 2015

Bhagyanagar India announced that the Board of Directors of the Company at its meeting held on 12 October 2015, inter alia, has finalised and approved the proposal for demerger of Solar Business to Surana Telecom and Power and Real Estate Business to Bhagyanagar Properties in terms of the Scheme of Arrangement pursuant to the provisions of the Companies Act, 1956 / 2013 ('the Scheme').

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