Titagarh Steels - Updates on Scheme of Merger & Amalgamation
Titagarh Steels Ltd has informed BSE that the Scheme of Merger and Amalgamation of Titagarh Steels Ltd. (TSL) (the Company) and Titagarh Biotec Pvt. Ltd. (TBPL) with Titagarh Wagons Ltd. (TWL) has been approved by the Hon''ble High Court, Calcutta on September 14, 2009 and certified copy thereof has been filed with the Registrar of Companies, West Bengal on December 08, 2009.
The shareholders of the Company will be allotted shares of TWL in the ratio 1:36 i.e. one equity share of Rs. 10 each in TWL for every 36 equity shares of Rs. 10/- each of TSL under the above scheme.