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MUMBAI:

Godrej Industries Ltd has announced that it would seek shareholders' approval for hiving off its foods divisions for Rs 50 crore.

The company plans to sell this division to an associate company, as a going concern. It has also sought approval for an investment of Rs 10 crore in the securities of Godrej Upstream Ltd.

(This article was published in the Business Line print edition dated January 5, 2006)
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