The Hindu Business Line : ACC to seek shareholders' nod for sale of AP unit

THE board of directors of Associated Cement Companies Ltd (ACC) has decided to seek shareholders' approval for the sale of its Mancherial Cement Works, located in the Adilabad district of Andhra Pradesh.

Voting will be through postal ballot, a notice by the company to the stock exchanges today said.

The company has appointed Ms Shirin K Bharucha, Legal Advisor, as scrutiniser for conducting the postal ballot process in a fair and transparent manner, said the notice.

The postal ballot forms, duly completed, should reach the scrutiniser on or before February 23 of this year; the scrutiniser will submit her report to the Chairman and the results will be announced on March 1.

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