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The audit committee and the board of Archidply Industries will meet on May 30 to consider a scheme of arrangement between the company and Archidply Décor for demerger of the Chintamani unit of the company into the latter. The scheme is subject to approval by SEBI, stock exchanges, shareholders, creditors, National Company Law Tribunal and other regulatory authorities, it said. Shares of Archidply fell 1.3 per cent at ₹84.45 on the BSE.
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