DCM Shriram Consolidated to demerge Hariyali Kisaan Bazaar

DCM Shriram Consolidated Ltd has announced that the Board of Directors of the Company at its meeting held on March 26, 2007, has decided to take shareholder's consent, authority and approval through Postal Balllot, for the Board of Directors to take decisions with the following:

1. To transfer, sell, lease, licence or dispose of either through scheme of reconstruction or otherwise, the business of Hariyali Kisaan Bazaar, presently a division of the Company, in whole or in part, in such manner and on such terms and conditions as the Board may deem appropriate, and

2. To progress the development and / or transfer, sell, lease, licence or dispose of either through scheme of reconstruction or otherwise, in such manner and on such terms and conditions as the Board may deem appropriate, whether in whole or in part, the Company's land at Shivaji Marg (New Delhi), Chandrapady (Tamilnadu), Karaikai (Pondicherry), Tapukada (Rajasthan) and Gurgaon, (Haryana).

Source : Equity Bulls

Keywords