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 Corporate - Restructuring
LGB's shareholders okay demerger

Coimbatore, March 28

LG Balakrishnan & Bros Ltd's proposal for the demerger of the forging division has been approved by the shareholders of the company. In a communication to the NSE, the company said that the Scheme of Arrangement between L.G. Balakrishnan & Bros Ltd the demerged company, LGB Forge Ltd, the resulting company and their respective shareholders for the demerger of Forging Division was approved on March 27 by the shareholders unanimously at the EGM held as per the directions of the High Court of Judicature at Madras. The company would take necessary steps for filing the petition before the High Court of Madras for its approval. - Our Bureau

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