At meeting held on 05 October 2015
Gujarat NRE Coke announced that the Board of Directors of the Company at its meeting held on 05 October 2015, has1. Approved the sale of its wind mill business for a consideration of Rs. 218.75 crore. The said sale is subject to a complete due diligence by the buyers of the business and approval from all relevant authorities and lenders of the Company.
2. Approved a Scheme of Arrangement/Compromise with its unsecured creditors under the provisions of Section 391 to 394 and other applicable provisions of the Companies Act, 1956 read with applicable provisions of Companies Act, 2013. The said Scheme has been approved by the Board subject to the requisite approvals from the relevant statutory and regulatory authorities and sanction of the Hon'ble High Court at Calcutta.
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