November 22, 2008

Titagarh Wagons – Outcome of board meeting

Titagarh Wagons Limited has informed BSE that its board of directors has considered and approved the following at its meeting held on June 18th 2008

1. Agreement to invest in a JV company for the purpose of ensuring supply of critical components required for manufacture of railway wagons

2. Payment of an installment of dues of workmen of Cimmco Birla Limited in terms of a tripartite agreement among workmen, union of workmen, labor department, state government of Rajasthan and the company, in furtherance of revival in strategic partnership with JP Morgan Mauritius Holdings Limited, of CBL subject to approval of the Board of Industrial and Financial Reconstruction subsequent to submission of a draft scheme of revival.