12th Apr 2011 14:32
Amalgamation of Centennial Steel Company Limited with the Company
We refer to our letter dated April 8, 2011, regarding restructure of our wholly owned subsidiary, Centennial Steel Company Limited (CSCL).
The Board of Directors of the Company and CSCL have at their respective meetings held today, approved amalgamation of CSCL with the Company with effect from April 1, 2011. This is subject to and conditional upon requisite approvals and sanction being received thereof, including approvals and orders under Sections 391 and 394 of the Companies Act, 1956, as may be required.
A copy of the Scheme will be submitted to you for approval under Clause 24(f) of the Listing Agreement.
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