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Our Bureau

Mumbai Aug. 9

The board of directors of Great Eastern Shipping today decided to seek an extension of time from the Bombay High Court for implementing the company's proposal to demerge its offshore business into a separate entity, according to a company spokesperson.

It was also decided, the spokesperson added, that after the demerger, Mr K.M. Sheth will be the chairman of both the companies. The composition of the promoter group will be the same in both the companies.

The company is hopeful of obtaining the necessary regulatory approvals within the extended deadline.

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