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Sundaram Clayton's plans

CHENNAI: Sundaram Clayton has informed the Bombay Stock Exchange through a notification that the board of directors of the company has approved the proposal to invest Rs. 5 lakhs in Auto India Engineering Ltd. This new company is proposed to be incorporated as a public limited company of which 100 per cent shares will be held by the company and its nominees. The new company will become a subsidiary of Sundaram Clayton on and from the date of incorporation, the notification added.

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