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Tuesday, April 20, 2010

RDB Ind receives approval for demerger of realty division

RDB Industries Ltd has announced that the Scheme of Arrangement between RDB Industries Ltd. and RDB Realty & Infrastructure Ltd. has been approved by the Hon'ble High Court of Calcutta vide its Order dated April 12, 2010.

By virtue of the said order the realty division of RDB Industries Ltd. will be hive off to RDB Realty & Infrastructure Ltd. and the shareholders of the Company will get 1 (one) fully paid-up equity shares of Rs. 10 each of Demerged Company RDB Realty & Infrastructure Ltd. against 1 (one) equity shares presently held by them in the Company.

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