Media Video to demerge real estate division, merge group companies

Media Video Ltd has announced that the Board of Directors of the Company at its meeting held on December 02, 2006, inter alia, has taken the following decisions:

1. To demerge the Real Estate Division of the Company into MVL Infrastructure Ltd.

2. To merge its 100% subsidiary- Smart Buildwell Pvt Ltd engaged in Real Estate Business into MVL Infrastructure Ltd.

3. To merge Six Associates / Group / Promoter Companies, which are developing a Township in Yamuna Nagar, Haryana into MVL Infrastructure Ltd.

Source : Equity Bulls

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