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| Exchange Disseminated Time 11/08/2016 17:50:02 | Aditya Birla Nuvo Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 11, 2016,
have considered and approved a Composite Scheme of Arrangement between the Company, Grasim Industries Limited and Aditya Birla Financial Services Limited and their respective shareholders and creditors u/s Sections 391 to 394 of the Companies Act, 1956 [“the Composite Scheme"].
The Scheme is subject to necessary statutory and regulatory approvals including the approvals of the respective High Courts, the Stock Exchanges, SEBl, the respective Shareholders and lenders/ creditors of each of the companies involved in the Composite Scheme.
In this regard, the Company has issued a Press Release dated August 11, 2016 titled "Creating a premier play on India's growth". |
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