On 11 May 2019Larsen & Toubro announced that its Board of Directors have approved a Scheme of Arrangement for merger of with its wholly owned subsidiary, L&T Shipbuilding. The Scheme is subject to necessary statutory and regulatory approvals including the approvals of National Company Law Tribunal/other regulatory authority and the respective Shareholders and Lenders/Creditors of each of the companies involved in the scheme. The Scheme will be filed with the Stock Exchanges as per the applicable provisions of Regulation 37 of SEBI LODR.
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