We hereby inform that at the Board Meeting of the Company held on 6th November 2020 the Directors have in order to facilitate better focus on B2e Products businesses of the Company agreed in-principle a proposal for restructuring of B2B businesses comprising domestic Projects business relating to MEP/HVAC and Water projects and contracts Mining and Construction Equipment (M&CE) business and Textile Machinery Division (TMD) by transferring them to a
100% wholly owned subsidiary company - "Rohini Industrial Electricals Limited" (RIEL). The name of RIEL would also be appropriately changed to suitably represent and reflect these businesses. While the transfer of the aforesaid businesses would be on a slump sale basis as a going concern the mode of transfer and other requirements are being looked into and necessary action and requisite approvals as may be required would be taken.
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