At meeting held on 29 May 2015
OCL Iron and Steel announced that the Board of Directors of the Company at its meeting held on 29 May 2015, inter alia, has approved the following:1. Demerger of its auto component business to be hived off into its wholly owned subsidiary through a Scheme of Arrangement in accordance with the applicable laws, subject to approval of respective High Courts, Stock Exchanges, SEBl, shareholders of the Company and other concerned authorities, as applicable.
2. Constitution of a Restructuring Committee of the Board to do various acts as may be required for the said demerger.
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