Kochi, Aug. 23
Through an order passed by the Ministry of Company Affairs dated August 18, the Central Government has given the final nod of approval for the merger of Kochi Refineries Ltd with Bharat Petroleum Corporation Ltd.
Subsequently, both the companies filed this order with the respective Registrar of Companies on August 21, as required under the Companies Act. As a result, "Kochi Refineries Ltd has ceased to exist as a separate entity and stands merged with Bharat Petroleum Corporation Ltd as specified in the scheme of amalgamation," a press release from KRL said.
Following the merger, all the assets, properties, liabilities, rights, duties and obligations and the like of KRL will henceforth vest with BPCL.