Siemens has announced that the shareholders of the company have voted against the proposed sale and transfer of the new low-voltage motors and geared motors businesses to Siemens Large Drives India Private Limited.
“The Company had sought the approval of its Members in relation to the aforesaid matter (amongst other matters) vide the postal ballot notice dated 23rd June, 2023.” Siemens informed via a regulatory filing on Friday.
“As an update, as disclosed in our letter dated 28th July, 2023, setting out the voting results of the aforementioned postal ballot, the said Resolution has not been approved by the Members of the Company.” Siemens added.
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Updated: 29 Jul 2023, 12:15 PM IST