Hinduja TMT to consider demerging IT & IES business

Hinduja TMT Ltd has announced that the meeting of the Board of Directors of the Company which is scheduled to be held on August 31, 2006, inter alia, will also consider scheme of Arrangement and Restructuring by way of Demerger of the Company´s IT & IES undertaking into a separate company will be placed for approval. The Board will also approve the plans of merger of the Company´s media and Broadband subsidiaries viz., Indusind Media & Communications Ltd, InNetwork Entertainment Ltd and In2Cable India Ltd into a single consolidated Media entity.

Source : Equity Bulls

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