Balkrishna Industries Ltd has informed that the Honble High Court of Bombay at the hearing held on October 10, 2007, has approved the Scheme of Arrangement between the Company and Balkrishna Papers Mills Ltd (Balkrishna Paper) and Balkrishna Synthetics Ltd (Balkrishna Synthetics) and their respective shareholders (Scheme) for the transfer of the Paper Business and Textile Business of the Company to Balkrishna Paper and Balkrishna Synthetics, respectively.
The meeting of the Board of Directors to take the Scheme on record shall be held after receipt of the High Court Order.
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