Blue Star drops plan to merge subsidiaries

Our Bureau Mumbai | Updated on October 10, 2014 Published on October 10, 2014

Blue Star has informed the stock exchange that the scheme of amalgamation of the company and its subsidiaries, Blue Star Design & Engineering Ltd and Blue Star Electro Mechanical Ltd, was reviewed by its board of directors in the light of certain amendments to the Income-Tax Act in August, 2014 under the Finance Act, 2014.

The board felt that though rationale for the integration was good and justified, given the changes in the tax laws and regulations, the proposed scheme appeared inappropriate and decided not to pursue it further.

Published on October 10, 2014
This article is closed for comments.
Please Email the Editor