Alstom India board approves dissolution of ‘immaterial arm’

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New Delhi | Published: June 6, 2016 8:43:38 PM

Alstom India today said its board has approved the dissolution of its "immaterial" wholly-owned arm Alstom Boilers India.

Alstom India today said its board has approved the dissolution of its “immaterial” wholly-owned arm Alstom Boilers India.

The approval was given in the board meeting held today, Alstom India Ltd said in a filing to the BSE.

“The Board of Directors of the Company…approved the dissolution of Alstom Boilers India Ltd, an immaterial wholly owned subsidiary of the company, since it had not undertaken any operations,” the filing said.

The company also informed the bourses that K Vasudevan resigned from the position of Independent Director of the Company with effect from June 7, 2016 in view of his other commitments.

“B S R & Co LLP, Chartered Accountants, have been appointed as the Statutory Auditors of the Company, subject to approval of members at the ensuing Annual General Meeting as the present Auditors, S N Dhawan & Co did not wish to be re-appointed/ratified to be appointed as the Statutory Auditors of the Company at the forthcoming Annual General Meeting,” the filing said.

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