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 Corporate - Restructuring


Munjal Auto to demerge unit

Our Bureau

NEW DELHI: Munjal Auto Industries plans to demerge its Binola unit in Haryana into a separate company.

The board of directors of the company on Wednesday decided to demerge its Binola unit, engaged in forging or machining activities, into Shivam Autotech, according to a communiqué to the Bombay Stock Exchange.

A committee of directors has been empowered to finalise the detailed demerger process on the basis of broad guidelines by the board.

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