Hinduja TMT may hive off ITeS biz

The board of directors of Hinduja TMT is scheduled to meet on August 31, 2006 to consider a scheme of arrangement and restructuring by way of the demerger of the company's IT & IES undertaking into a separate company.

According to a release issued by the company to the BSE today, the board will also approve the plans of merger of the company's media and broadband subsidiaries - Indusind Media & Communications, InNetwork Entertainment and In2Cable India - into a single consolidated media entity.