Mahindra Ugine Steel Company Ltd has now announced that, pursuant to the approval by the Board of Directors and the Shareholders of the Company and receipt of requisite statutory approvals and satisfaction of conditions, the Steel (including Rings/Bearing Races) business of the Company has been transferred as a going concern on a slump sale basis, to the wholly owned subsidiary of the Company, viz., Navyug Special Steel Private Limited ("Navyug Steel) with effect from closing working hours of July 9th 2012.

Source - Equity Bulls

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