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Coimbatore, Sept. 22 Sintex Industries Ltd’s shareholders have approved the scheme of arrangement between Sintex Industries Ltd and its equity shareholders and it will be presented for approval and consideration of the High Court of Gujarat at Ahmedabad.

The scheme envisages a financial restructuring exercise by earmarking Rs 200 crore from its securities premium account as on March 31, 2008 towards the international business development reserve, which would be utilised towards the company’s inorganic growth related costs as may be identified by the management to be appropriate, on standalone as well as consolidated basis.

More Stories on : Restructuring | Plastics

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