Havells India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 28, 2010, inter alia, 1. Declared an interim dividend of Rs. 1.25 per equity share for the financial year 2009-10. 2. Considered and approved the scheme of arrangement involving: (i) Creating a Business Reconstruction Reserve for an amount, as may he determined and considered appropriate by the Board of Directors or the Company, from the balance available in the Securities Premium Account of the Company. The amount allocated in the aforesaid Business Reconstruction Reserve would be utilized for writing off of all the non operating / extraordinary/ abnormal costs incurred/to be incurred on international acquisitions / organic growth projects of the Company; (ii) Acquisition of the business of Standard Electricals Limited, a Company under the same management, through a 100 % subsidiary of the Company. This will consolidate similar businesses and lead to synergies of operations.
Source: BSECourtesy moneycontrol.com
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