Vardhman Industries mulls foray into realty

New Delhi, Dec 26: Vardhman Industries Ltd, engaged in manufacture and export of auto parts, hand tools, garden tools and castings, today announced its plans to foray into the real estate sector.

''The Board of Directors has decided to amend the Memorandum of Association of the company by including an enabling clause in other objects so as to decide in future to diversify into real estate business,'' a company statement said.

The move is subject to approval of shareholders by way of passing the special resolution through postal ballot.

The members of the company will meet on January 31, 2007, to consider the resolution.

UNI