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Our Bureau

Coimbatore, Nov. 19 Cals Refineries Ltd has said that the board of director has decided to seek the approval of the shareholders for issue, allot GDR/FCCB of $500 million in addition to the GDR/FCCB issue approved by the members of the company in 2007.

Kothari Products Ltd has said that the High Court of Allahabad has approved the scheme of arrangement between Kothari Products Limited (KPL) and Pan Parag India Limited (PPIL), the resulting company for de-merger of Pan Masala Division, Beverages Division & Trading Division of KPL into PPIL. The certified copy of the order has been filed electronically by KPL & PPIL with registrar of companies, UP & Uttranchal, on November 18 which becomes the appointed date and effective date as per the aforesaid scheme and order.

Revathi Equipment Limited has informed that the board of directors of its joint venture company Potential Service Consultants Private Limited, Bangalore, and the board of directors of its subsidiary company Semac Limited, Bangalore, have decided that PSCPL would merge with Semac Limited subject to the approval of High Court of Karnataka and of their respective shareholders. Based on swap ratio approved by the board of directors of the companies, the merged company will become subsidiary of Revathi Equipment Ltd, on approval from the high court.

Simbhaoli Sugars Limited has set up a business entity named as Simbhaoli Global Commodities DMCC in the free trade zone of Dubai, the United Arab Emirates, with Dubai Multi Commodities Centre Authority for trading in sugar, molasses, ethyl alcohol, fuel alcohol and other agro based commodities in the overseas market.

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