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Accel Transmatic to transfer "Accel IT Academy" to new subsidiary
Posted On : 2007-03-21 10:55:59( TIMEZONE : IST )
Accel Transmatic Ltd has announced that the members of the Company, by way of postal ballot, have passed the Ordinary Resolution under section 293(1)(a) of the Companies Act, 1956, relating to transfer as a going concern the business and undertaking of the Training Division of the Company called "Accel IT Academy" together with its 21 training centres located in the States of Kerala, Tamil Nadu, Andhra Pradesh and Maharashtra by way of sale and / or lease to a new Company being incorporated as a wholly owned subsidiary of this Company, or to a Joint venture on and from a date to be fixed by the Board of Directors of the Company and on such terms as the Board of Directors may determine (at a price not less than an independent valuation of the business as well as the book value on the transfer date), with requisite majority.
