The Hindu Business Line : Corporate developments

Coimbatore, Oct. 11 Balkrishna Industries Ltd has said that the High Court of Bombay has approved the Scheme of Arrangement between the Company and Balkrishna Papers Mills Ltd (“Balkrishna Paper”) and Balkrishna Synthetics Ltd (“Balkrishna Synthetics”) and their respective shareholders for the transfer of the paper business and textile business of the company to Balkrishna Paper and Balkrishna Synthetics, respectively. The meeting of the board of directors to take the scheme on record shall be held after receipt of the High Court order.

Bharati Shipyard Ltd has said that the Shipping Corporation of India Ltd’s board has given approval for acquisition of four anchor handling tugs cum supply vessels from Bharati Shipyard Ltd. The total price of each vessel is $22.32 million totalling to $89.28 million (approx. Rs 351 crore). These vessels will be constructed using Havyard Design which will be used for the first time for such vessels built in India.

GVK Power & Infrastructure Limited has said that the High Court of Delhi has approved the Scheme of Amalgamation of Bowstring Projects & Investments Pvt Ltd (First Transferor Company), Green Garden Horticulture Private Limited (Second Transferor Company) with GVK Power & Infrastructure Limited (Transferee Company) and their respective shareholders and creditors. The appointed date as approved in the scheme is 1-4-2006.

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