Others

Demerger

| Updated on January 19, 2011 Published on January 19, 2011

Axis-IT&T Ltd has informed BSE that the holding Company of Axis-IT& T Ltd (Axis), i.e. Tayana Software Solutions Pvt. Ltd. (TSSL), holding 60.83% of the Equity share capital of Axis, has demerged its investment business through the Scheme of Arrangement as approved by the Honble High Court of Karnataka vide its order dated December 16, 2010 which was received by TSSL on January 13, 2011.

Consequent to the demerger, the investment business of TSSL stands transferred to Tayana Digital Pvt. Ltd.

As a result of the above demerger, the investments held by TSSL in Axis will stand transferred to Tayana Digital Pvt. Ltd. and consequently Axis will become a subsidiary of Tayana Digital Pvt. Ltd.

Source : BSE - >www.bseindia.com

Published on January 19, 2011
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