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ITC shareholders clear hotel biz demerger with 99.6% majority
June 07, 2024
|Business Standard
Chairman and MD Sanjiv Puri indicated the process may take 6-8 months to complete
Shareholders of conglomerate ITC on Thursday voted, with a 99.6 per cent majority, in favour of demerging its hotels business.
The company announced the voting results after the shareholders' meeting convened by the National Company Law Tribunal (NCLT) to approve the demerger of the hotels business into ITC Hotels.
The resolution for approving the scheme of arrangement among ITC and ITC Hotels and their respective shareholders and creditors has been passed by the members through a requisite majority, the filing with the stock exchanges said.
The ITC stock on Thursday at the BSE closed at 435.80, up 1.28 per cent.
The shareholders' nod came amid a recommendation to vote "against" the resolution from domestic voting advisory firm Institutional Investor Advisory Services (IiAS).
هذه القصة من طبعة June 07, 2024 من Business Standard.
اشترك في Magzter GOLD للوصول إلى آلاف القصص المتميزة المنسقة، وأكثر من 9000 مجلة وصحيفة.
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