Gillette India to write-off Rs 90cr

The board of directors of Gillette India, which met today, approved a proposal to write-off Rs 90 crore against capital reserves of the company as part of the restructuring cost.

According to a release issued by Gillette to the BSE today, the company will shortly file a scheme of arrangement between the company and equity shareholders under Section 391 of the Companies Act, 1956.

"The scheme will be subject to approval of the High Court of Rajasthan," the release added.