Siemens will transfer its enterprise communications division to a separate legal entity, Siemens Enterprise Communications, as an ongoing concern with its registered office at Mumbai with effect from August 01, 2007.According to an official release issued by Siemens to the BSE today, all contractual agreements, contract-related purchase orders and individual agreements otherwise agreed upon will be transferred to Siemens Enterprise Communications. Following the transfer, Siemens Enterprise Communications will assumes all rights and obligations (including all accounts receivable and accounts payable, if applicable) of Siemens in connection with the contractual relationship as far as the enterprise business is concerned.
