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HYDERABAD: Hyderabad Industries Ltd will seek the approval of its shareholders for an ordinary resolution under Section 293(1)(a) of the Companies Act, 1956 through postal ballot, for sale, transfer or otherwise dispose of the whole of the Heavy Engineering Division located at Uttarpara in West Bengal.

The division, which manufactures primarily engineering products, is proposed to be transferred to Titagarh Wagons Ltd.

Hyderabad Industries informed the stock exchanges that its board of directors has appointed Mr O.P. Jakhotia, a practising company secretary, as scrutiniser for conducting the postal ballot process.

The results of the postal ballot would be announced on May 9, the company said.

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