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HC asks SWIL to get shareholders nod for demerger 

PRESS TRUST OF INDIA  
Kolkata, Jan 7: The Calcutta high court has asked SWIL Ltd to get approval of shareholders at an extraordinary general meeting on January 25 for a scheme of arrangement that seeks to demerge its businesses other than the Rs 1,020.54 crore Copper Project, International Business Division and Investments to a new company named Shalimar Wires Industries Ltd.

SWIL's other businesses, such as manufacture of phosphor bronze wire cloth, stainless steel wire cloth, fabric, dandy rolls brackets and accessories, water showers, EDM wires and dryer screens, brass/bronze wires, copper alloy strips and wires and specialty papers would be carried on by Shalimar Wires, company officials said.

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