Sharda Motor Industries gets nod to demerge automobile seating undertakings

Sharda Motor Industries has received approval for scheme of arrangement for the company with the Resulting Company presently under incorporation in the name of NOR Auto Components and their respective shareholders and creditors.

The Scheme provides for the demerger of Automobile Seating Undertaking into Resulting Company. The Board of Directors of the Company at its meeting held on March 08, 2019 has approved the same.

Sharda Motor Industries was incorporated in 1986. It manufactures automotive components and metal parts, exhaust system components, fabric automotive upholstry products.