Narbada Gems and Jewellery Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 14, 2012, inter alia, have considered the following: - The proposal for a Scheme of Arrangement u/s 391-394 of the Companies Act, 1956 for Capital restructuring and merger of a business division of M/s. Sanghi Jewellers Private Limited with the Company has been discussed at length and all possibilities were explored and the Board authorized Mr. Sanjay Kumar Sanghi, Managing Director to appoint Lawyers, Valuers and other agencies and bring the draft Scheme to the Board for consideration.