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Sutlej Industries to demerge textiles business

NEW DELHI: The K. K. Birla group company, Sutlej Industries (SIL), said on Monday it planned to demerge its textiles business into a wholly-owned subsidiary Sutlej Textiles and Industries (STIL). The board of directors of SIL on Monday approved the scheme of arrangement among SIL and STIL, a company release said. The scheme provides for the demerger of the textiles division of SIL and creating a purely textile company STIL. The scheme comes into affect from July 1, 2005.

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