At meeting held on 19 February 2015
Crompton Greaves announced that the Board of Directors of the Company at its meeting held on 19 February 2015 based on comments received from the SEBI, the Stock Exchanges and investors' feedback, has evaluated salient aspects of the Scheme of Arrangement with respect to demerger of the Consumer Products business of the Company.The Board has now reconsidered and approved the contours of the proposed demerger and decided to implement a 100% demerger of the Consumer Products business, such that the shareholding pattern of the Resulting Consumer Company shall mirror the shareholding pattern of CG.
A scheme of arrangement incorporating the above principles will soon be considered by the Board of Directors.
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