The Board of Directors at its meeting held today has approved the scheme of arrangement between Manaksia Limited ('ML' or the 'Demerged Company') and Manaksia Ferro Industries Limited ('MFIL' or the 'Resulting Company') and their respective shareholders providing for the demerger of the Company''s Metal Products Business undertaking (hereinafter referred to as the 'Scheme'), under Sections 230 to 232 read with Section 66 and other applicable provisions of the Companies Act, 2013 and relevant rules made thereunder