Outcome of Board Meeting

India Infoline Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 10, 2012, inter alia, has considered the following;

1. Noted the acquisition of 0.93% equity shares of India Infoline Marketing Services Ltd (IIMSL") held by Bennett, Coleman & Co. Ltd by the Company thereby making IIMSL a wholly owned subsidiary.

2. Noted the acquisition of 371,151 equity shares of India Infoline Finance Ltd, the NBFC subsidiary of the Company by Bennett, Coleman & Co. Ltd.

3. Approved the merger of India Infoline Marketing Services Ltd ("IIMSL"), the Wholly Owned Subsidiary ("WOS"), with the Company pursuant to Section 391 to 394 of the Companies Act, 1956 and subject to necessary regulatory and court approvals. The "Appointed Date" of the merger is April 1, 2011. As IIMSL is WOS of the Company, the proposed merger will not involve any consideration.

Source : BSE - >www.bseindia.com

Published on January 10, 2012


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