with Nashik-based Datar Switchgear (DSL) under a scheme to be approved by the Board for Industrial and Financial Reconstruction (BIFR). This was announced in a release issued by L&T to the BSE today. "The acquisition is in line with L&T's plans to expand product range in the low voltage electrical business," the release added. DSL is engaged in the manufacture of electrical and electronic products. Before the merger, DSL will transfer its electronics business and other identified liabilities, including the award it has received under an arbitration with Maharashtra State Electricity Board and related litigation, to an identified company. "As part of the arrangement for merger, the company will assume debt of approximately Rs 24 crore. The company's equity share capital will not undergo any significant dilution post merger," the release added.
