‘ subsidiary — Citron Infraprojects’ board on recommendation of the Audit Committee, has filed a demerger application for re-organizing of its business into two parts i.e. Core business and Non-core business separately in order to focus more on core activities.
The company will be able to achieve its target of exiting all non-core and low margin trading businesses and at same time reduce its financial liabilities to the extent attributable to the Noncore activities.
SVP Global Ventures was incorporated with the main object of carrying on the business as an investment company. Later, the company diversified to the business of media and entertainment.