The High Court Order for the merger of certain subsidiary companies into its wholly owned subsidiary, Alok Infrastructure Limited is awaited.
The Company also proposes to further demerge some of the businesses of Alok Infrastructure Limited (post the merger of the other subsidiaries into it) into the Company, subject to appropriate consents.
The above corporate actions would facilitate the sale of non-core businesses with minimum impact on financials and also be tax effective for the Company. The Company has received approval from the Registrar of Companies, Gujarat in this regard as also for corresponding extension of date for holding the Annual General Meeting.
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