HUL

Mumbai bench approved the demerger of Hindustan Unilever’s ice cream business into Kwality Wall’s (India) Ltd (KWIL), an exchange filing said on October 30. The nod clears the way for the FMCG major’s long-awaited proposal to separate its ice cream business into a separate entity. The Mumbai NCLT bench granted the approval under sections 230 to 232 and other applicable provisions, the filing said. The latest development is also part of the HUL’s parent firm Unilever’s plans to demerge its ice cream business into an independent unit.