L038;T to acquire Datar Switchgear

Before the merger, DSL, which has around 150-170 employees, would transfer its electronics business and other identified liabilities, including the award it has received under an arbitration with Maharashtra State Electricity Board MSEB and related litigation, to an identified company.

After obtaining the approval of DSL lenders, the scheme would be filed with BIFR for its approval. It would then be placed before the shareholders of L038;T on receipt of directions from BIFR.

8216;8216;With the products from DSL, L038;T will serve the entire building electrical segment 8212; both the premium and the mass market. L038;T has commenced work on product augmentation along with DSL,8217;8217; it said.

DSL is presently engaged in the manufacture of electrical and electronic products. DSL was a pioneer in the field of minutes circuit breakers MCB and earth leakage circuit breakers ELCB and has been manufacturing them since 1984. DSL8217;s products for building electrical segment are well accepted, though over the last few years.

DSL was not able to exploit its full potential due to various constraints. DSL brings with it a core technology available with few manufacturers world over.