Transfer of Steel (including Rings) Business of the Company as a going concern on a slum sale basis

| Updated on July 10, 2012 Published on July 10, 2012

With reference to earlier announcements dated November 11, 2011, November 29, 2011 and January 04, 2012, Mahindra Ugine Steel Company Ltd has now informed BSE that, pursuant to the approval by the Board of Directors and the Shareholders of the Company and receipt of requisite statutory approvals and satisfaction of conditions, the Steel (including Rings/Bearing Races) business of the Company has been transferred as a going concern on a slump sale basis, to the wholly owned subsidiary of the Company, viz., Navyug Special Steel Private Limited ("Navyug Steel) with effect from closing working hours of July 09, 2012.

Source : BSE - www.bseindia.com

Published on July 10, 2012
This article is closed for comments.
Please Email the Editor