Adani Ports and Special Economic Zone Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 14, 2017, inter alia, has transacted the following; 1. The Board has considered and approved the Scheme of Arrangement between Adani Ports and Special Economic Zone Limited and The Adani Harbour Services Private Limited and their respective shareholders and creditors ('Scheme') under sections 230 to 232 of the Companies Act. 2013. The Adani Harbour Services Private Limited is a wholly owned subsidiary of the Company. As per the Scheme, Marine Business Undertaking of the Company will be demerged into The Adani Harbour Services Private Limited on a Slump Sale [section 2 (42C) of the Income-Tax Act, 1961] basis for lump-sum cash consideration. The Scheme is subject to requisite Statutory and Regulatory approvals and sanction by the National Company Law Tribunal, BSE Limited. National Stock Exchange of India Limited, the respective shareholders and creditors of each of the companies involved in the scheme. Update on the Scheme of Arrangement (As Per BSE Announcement Dated On 23/08/2017)