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Kesoram Industries Ltd approves demerger of tyre business to Birla Tyres Ltd

As recommended by the Audit Committee of the Board of Directors of Kesoram Industries Limited (‘Company’) at its meeting held on 4th December, 2018 has approved the demerger of the Company’s Tyre Undertaking into Birla Tyres Limited (‘Resulting Company’), to be implemented in terms of the Scheme of Arrangement (‘Scheme’) between the Company, Resulting Company and their respective Shareholders and Creditors under Sections 230 and 232 of the Companies Act, 2013 and other applicable provisions of the Act (‘Proposed Demerger’).

The Proposed Demerger shall be subject to the approval / sanction of the Scheme by National Company Law Tribunal, Kolkata Bench and such other au…
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