Shareholders approve Dalmia Bharat, OCL India merger

Dalmia Bharat Limited (DBL) and group firm OCL India Limited (OCL) have got approval from their respective shareholders for their merger, a step which will simplify the group structure.

Under the National Company Law Tribunal (NCLT) convened meeting, "shareholders of both the companies approved the 'scheme' unanimously with 100 per cent of the votes casted in favour of the same", DBL said in a statement.

The scheme is now before the NCLT for the final approval which is expected to be received in next three months, it added.

DBL Group CFO Jayesh Doshi said: "This brings us one step closer to our objective of simplifying the group structure and creating one listed entity."

This would consolidate operations in the eastern part of the country.