• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Coimbatore May 12 India Cements Ltd (ICL) has called for a meeting of the shareholders of the company on June 11 to decide on the scheme of amalgamation of Visaka Cement Industry Ltd with ICL. This follows an order issued by the Madras High Court.

In a notification to the NSE, India Cements had stated that pursuant to the order dated April 25, from the Honourable High Court of Madras, a meeting of equity shareholders of the company will be held on June 11, to consider and if thought fit, approve with or without modification, the scheme of amalgamation between Visaka Cement Industry Ltd (Transferor Company) and The India Cements Ltd (Transferee Company) and their respective shareholders.

On February 28, the board of directors of India Cements decided to merge its associate company, Visaka Cement Industry Ltd, with itself.

As per the scheme of amalgamation to take effect from July 1, 2006, subject to sanction of appropriate authorities, one equity share of Rs 10 in India Cements will be issued for every 5 equity shares of Rs 10 in Visaka Cement.

Consequent to the above, the subscribed and paid-up equity share capital of ICL will increase from Rs 220.37 crore to Rs 260.37 crore.

On February 28, the board of directors of India Cements decided to merge its associate company, Visaka Cement Industry Ltd, with itself.

As per the scheme of amalgamation to take effect from July 1, 2006, subject to sanction of appropriate authorities, one equity share of Rs 10 in India Cements will be issued for every 5 equity shares of Rs 10 in Visaka Cement.

Consequent to the above, the subscribed and paid-up equity share capital of ICL will increase from Rs 220.37 crore to Rs 260.37 crore.

More Stories on : Mergers & Acquisitions | Cement

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Surana Ind finalises contracts

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line