Scheme of reconstruction Bhagyanagar Metals Limited has informed the Exchange that BODs of the Company at their meeting held on November 05, 2005 considered the scheme of Reconstruction of Company's Businesses.The salient features of the scheme are as follows: (i)The scheme provides for the: (3) Demerger of the Infrastructure Division of surana Infocom Limited ("SIL") and its vesting in Bhagyanagar Metals Limited ("BML") w.e.f.the appointed date; (ii)The appointed date under the Scheme is April 01, 2005 or such other date as may be agreed by the BODs of all the Companies and as approved by the High Court of Andhra Pradesh.Scheme of reconstruction as on the Record date. (3) upon demerger of the Infrastructure Division of the Company to STL to the BML, The Bhagyanagar Metals Limited would in consideration of such Demerger, issue and allot to every member of STL, 28 equity shares of Rs.2/- each par value credited as fully paid up in the Company for every 100 equity shares of Rs.5/- each par value fully paid up held by such member in STL, as on the Record date; (6)The Exchange ratios pertaining to the Schemes as stated above have been determined by the BODs of the Company based on their independent judgement and taking into consideration the valuation provided by M/s Ch.G.Krishna Murthy & Co. CharteredAccountants,Hyderabad.(7)The fresh equity shares to be issued by the Company in terms of the scheme to the members of STL and SIL, as stated above, shall be subject to all applicable regulations and admitted to trading on the recognized stock Exchanges where the equity shares of the Company are admitted to trading as on the date the scheme becomes effective.