Financial Daily from THE HINDU group of publications
Thursday, Feb 02, 2006
Financial Daily from THE HINDU group of publications Thursday, Feb 02, 2006 |
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Logistics
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Supply Chain Management TCI may foray into rail containerised services Our Bureau
New Delhi , Feb. 1 Transport Corporation of India Ltd (TCIL) has said that it is "actively considering" foraying into offering containerised operations on rail tracks. According to Mr Vineet Agarwal, Executive Director, "We are actively considering foraying into containerised operations segment. We still have time." However, he declined to divulge any further details on the issue. The company's board of directors has also approved the scheme of arrangements towards amalgamation of TCI Seaways Ltd (TCISL), an unlisted group company engaged in coastal and international cargo movement, effective April 1, 2005. This is, however, subject to requisite approvals. Pending requisite approvals of the shareholders and others including sanction of the High Court of Andhra Pradesh, no effect to the said scheme has been considered, said a release. The ratio of exchange in the event of amalgamation of TCISL into TCIL would be two shares of TCIL of face value of Rs 10 each for every three shares of TCISL of face value of Rs 10 each. The Board has also decided to split the existing equity shares having the face value of Rs 10 each into five shares of Rs 2 each, subject to shareholders and other approvals, added the release.
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