has approved a Scheme of Arrangement under Sections-391 and 394 of the Companies Act, 1956 for reconstruction of the Company by transfer of its non T&D business (Motors & Meters), as a going concern, to the Company's subsidiary viz. ALSTOM Industrial Products Ltd (AIPL) for a total consideration of Rs 413 million. The consideration for the transfer will be satisfied by issue of equity shares by AIPL to the Company. It is intended that such equity shares issued and allotted to the Company by AIPL, would ultimately be acquired by an ALSTOM Group Company and/or their nominee(s) subject to and upon completion of requisite formalities. The transfer is proposed to be effected under a Scheme of Arrangement, pursuant to the provisions of Sections 391 and 394 of the Companies Act, 1956 and subject to the approval of the shareholders and the Hon'ble High Court at Kolkata.