Unitech to consider restructuring panel's report on Apr 20

MUMBAI: Realty major Unitech Ltd on Friday said its board of directors would meet on April 20 to consider the recommendations of the Restructuring Committee on various proposals for corporate restructuring.

The board would discuss various schemes/proposals in this regard with the ultimate object of enhancing and unlocking shareholder value, Unitech said in a filing with the Bombay Stock Exchange.

The company had constituted a "restructuring committee" for evaluating opportunities for potential merger of subsidiaries, demerger and other forms of restructuring, or acquisition, or spin-off with the ultimate object of enhancing and unlocking shareholders' value.

It has appointed Ernst &Young, S R Batliboi & Co and Amarchand & Mangaldas & Suresh A Shroff & Co as advisors to assist the restructuring committee.