Sundaram Clayton approves composite scheme of arrangement

Sundaram Clayton Ltd has informed the stock exchange that shareholders, in a meeting on Friday, have approved a composite scheme of arrangement including amalgamation and demerger among Sundaram-Clayton, Anusha Investment and Sundaram Investment and their respective shareholders. The company has submitted to the exchange a copy of abstract of the poll results announced by the Chairman, Mr Venu Srinivasan. The scheme will be further subject to the approval of the High Court of Madras.