Company news: Bombay Dyeing and Manufacturing Company

The Mumbai Bench of the National Company Law Tribunal has approved a scheme of arrangement between Scal Services (demerged company) and Bombay Dyeing and Manufacturing Company (resulting company) with effect from the appointed date of July 1, 2018. Under the proposal, the real estate business of Scal will be demerged and transferred to Bombay Dyeing. Shares of Bombay Dyeing closed at ₹108.60, down 2.12 per cent, on the NSE.