Alok Industries Ltd has informed BSE that the Board of Directors of the Company has approved the Scheme of Arrangement between Alok Infrastructure Limited, a wholly owned subsidiary of the Company [Alok Infra] and the Company and its Shareholders u/s Section 391 to 394 of the Companies Act, 1956 through circular resolution on December 31, 2013. The above proposal was discussed at an Audit Committee Meeting convened on December 26, 2013 and the same was recommended to the Board by the Committee Members. Further, the above Scheme of Arrangement is for demerger of a real estate asset (Peninsula Business Park premises) of Alok Infra into the Company. The Appointed Date for the Scheme of Arrangement shall be October 01, 2013. Upon approval of the aforesaid Scheme of Arrangement by the Hon'ble High Court, Bombay all assets and liabilities of Alok Infra pertaining to the above real estate asset shall be transferred to and recorded by the Company at book value. Further, Alok Infra being a wholly owned subsidiary of the Company, there shall not be any issue of shares by the Company pursuant to this Scheme. The above proposal is subject to necessary approvals of Securities and Exchange Board of India, Stock Exchanges and other regulatory authorities, shareholders and other statutory compliances, as applicable and sanction of the Scheme by the Hon'ble High Court, Bombay. With reference to the earlier announcement dated January 01, 2014, regarding the Board of Directors of the Company had approved the Scheme of Arrangement between Alok Infrastructure Limited, a wholly owned subsidiary of the Company (Alok Infra) and the Company and its Shareholders u/s Section 391 to 394 of the Companies Act, 1956 through circular resolution on December 31, 2013. Alok Industries Ltd has now informed BSE that the Company had inadvertently mentioned that the Board had approved the above proposal on December 31, 2013 through circulation, whereas the same was approved on December 30, 2013. The rest of the contents of the aforesaid announcement remain unchanged. (As per BSE Announcement Dated on 16.01.2014)