Electrotherm (India) Ltd. has informed the Exchange that "The Board of Directors of the Company at its meeting held on 13th April, 2009, has, inter alia, considered and approved the following: (1) In view of the change in current market scenario, the Board has reviewed the proposed Scheme of Arrangement for the demerger of the Engineering Business of the Company into a wholly owned subsidiary approved by the Board of Directors on 29th December, 2008. After deliberation, the Board has now considered it appropriate to keep the Scheme in abeyance till such time as the Board may consider appropriate. (2) Approved a Scheme of Arrangement which provides for the utilization of the Share Premium Account standing to the credit in the Books of the Company as on March 31, 2008 and the creation and utilization of the Business Development Reserve Account as described in the Scheme. (a) The said Scheme of Arrangement does not entail issue of any shares or other consideration to any of its shareholders. (b) The Scheme will be, subject to requisite Consent and approvals as may be required. (3) Appointment of Mr. Sudhir Kapur as an Additional Director."