Amulya Leasing & Finance Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 20, 2011, inter alia, has considered and approved the following;
1. Approval of proposal for Merger of M/s. Apollo Pipes Ltd with the Company in accordance with the provisions of Section 391 to 394 of the Companies Act, 1956 and delegation of authority to the Company's officials to draft the Scheme of Amalgamation in consultation with M/s. Intellect Law Partners, Advocates, who shall act as the legal consultants of the Company for the purpose;
2. Appointment of M/s. R. K. Baheti & Co., Chartered Accountants having their office at 25, Babar Road, Bengali Market, New Delhi- 110001 as the Valuer for the purpose of valuation of Equity Share of the Company and of M/s. Apollo Pipes Ltd as per the Balance Sheet for the Financial Year ended March 31, 2011 and to derive the Share Exchange Ratio; and
3. Delegation of authority to the Company's officials to perform necessary steps for the aforesaid purpose and matters incidental thereto, including but not limited to change in Main Objects as contained in Clause III A of Memorandum of Association of the Company.