The Board decided to demerge the manufacturing division of the company from the investment and other manufacturing activities. The Board would further consider a scheme for this purpose to be submitted to the stock exchanges and the court, including the structure, entitlement ratios etc. at a meeting to be held on January 06, 2005. Have approved the draft scheme for demerging the manufacturing activities of the Company with effect from July 01, 2004 (Appointed date) into its wholly owned subsidiary company (Resulting Company) which currently has a paid up capital of Rs 0.50 million. The draft scheme envisages issue of shares by the Resulting Company to all the shareholders of the Company in the ratio of 1:1 viz. one share in the Resulting Company of the face value of Rs 10/- fully paid up for every one share held in the Company. (As per BSE Bulletin dated on 07/01/2005) The company has informed that, pursuant to the order of the Hon'ble High Court of Madras, the members at the General Meeting of the Company held on March 28, 2005, have under Section 391 & 394 of the Companies Act, 1956, approved the Scheme of arrangement for demerger of manufacturing undertaking of the Company into Rane (Madras) Manufacturing Ltd, with requisite modifications to record the subsequent events occurred in the resulting Company, after filing the scheme with the Court, viz. (a) Change of name from Rane Holdings Ltd to Rane (Madras) Manufacturing Ltd; and (b) Increase and re-classification of the authorised capital as follows: 11,000,000 Equity Shares of Rs 10/- each - 110,000,000 4,500,000 Preference Shares of Rs 10/- each - 45,000,000 Total - 155,000,000 (ii) as contemplated in the scheme,the shareholders at the Extra-Ordinary General Meeting of the Company held on March 28, 2005 have passed an enabling resolution to change the name of the company to Rane Holdings Ltd. The name change will be given effect after the Hon'ble High Court of Madras sanctions the scheme. (As per BSE bulletin dated on 29/03/2005) Rane (Madras) Ltd. has informed the Exchange that Hon'ble High Court of Madras has sanctioned the Scheme of Arrangement for demerger of the manufacturing undertaking of the company into the resulting company to be renamed as Rane (Madras) Limited. Upon the scheme coming into effect :- 1) The name of the company would be changed to Rane Holdings Limited (RHL). 2) The entire manufacturing undertaking of the company as on the appointed date, viz. July 01, 2004 would be transferred to the resulting company to be renamed as Rane ( Madras) Limited (RML). 3) The Shareholders of the company, whose names appear in the Register of Members on Record Date, are entitled to allotment of ONE equity share of Rs. 10 each fully paid up in the resulting company for every ONE equity share held in the company. 4) For the purpose of allotting the shares under the scheme, as aforesaid, the board of directors has fixed May 18, 2005 as the Record Date. Rane (Madras) Ltd. has informed the Exchange that the BODs have fixed May 18,2005 as record date for determining the shareholders who are eligible to receive shares under the allotment as per the sanctioned Scheme of arrangement for demerger of the manufacturing undertaking of the company into the resuting company to be renamed as Rane (Madras) Limited. (As per NSE bulletin dated on 04/05/2005) Members of the Exchange are hereby informed that, Rane (Madras) Ltd. has fixed the Record Date for the Scheme of Arrangement. The transactions in the equity shares of the company should be done on an ex-entitlement basis with effect from the undermentioned date. Scheme of Arrangement for demerger of the manufacturing undertaking of the company: Issue of ONE equity share of Rs.10/- each fully paid up of Rane (Madras) Manufacturing Ltd. for every ONE existing equity share of Rs.10/- each fully paid up held in the company. Note:- The scrip will be in No Delivery from 11/05/2005 (DR-030/2005-2006) to 17/05/2005 (DR-034/2005-2006) (As per BSE Notice dated on 06/05/2005)