Brief: Chandni Textiles Engineering Industries approves demerger of co's engineering division

Candour Techtex

19/07/2016 07:32

July 19 (Reuters) - Chandni Textiles Engineering Industries Ltd  CHTL.BO : 
 * Approved demerger of engineering division of co and vesting it with unit 
   Chandni Machines Private Limited 
 
 * Source text: Chandni Textiles Engineering Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 15, 2016, has considered and approved the proposal for demerger of its engineering division of the Company and vesting it with a wholly owned subsidiary of the company viz. Chandni Machines Private Limited with effect from July 01, 2016 under the provisions of Section 391 to 394 of the Companies Act 1956, or any corresponding provisions of the Companies Act, 2013. 
 
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