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IL& FS Engineering and Construction Company Ltd has convened a meeting of shareholders and creditors next month as directed by the Andhra Pradesh High Court to secure their nod to restructure the company's capital.
Formerly Maytas Infra Ltd, IL&FS Engineering is in on the road to recovery under IL&FS management and recently concluded a major board restructure process with Mr Ravi Parthasarathy stepping down as its Chairman and members of the Saudi BinLadin Group joining the board.
The AP High Court has appointed Mr B.S. Shivaji, Advocate, as the Chairman to hold the meeting on December 9 to consider a scheme of arrangement.
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