Kisan Mouldings members to approve Scheme of Amalgamation

25th February 2005: Kisan Mouldings Ltd has informed BSE that the pursuant to the order of Hon'ble High Court of Judicature at Bombay a meeting of the Equity Shareholders of the Company (the Applicant Company) will be held on March 17, 2005, for the purpose of considering and if thought fit, approving with or without modifications the Scheme of Amalgamation of Gaurav Agro Plast Ltd, the Transferor Company with the Applicant Company.

IDBI members approve Scheme of Amalgamation

24th February 2005: Industrial Development Bank of India Ltd (IDBI Ltd) has informed BSE that the shareholders at the Extra Ordinary General Meeting held on February 23, 2005 have approved the resolution pertaining to the Scheme of Amalgamation of IDBI Bank Ltd with IDBI Ltd, with requisite majority.

MTNL for merger route

24th February 2005: Ahead of ICICI Securities submitting its first report outlining the option of synergising the operations of MTNL and BSNL, MTNL on Wednesday favoured the idea of a merger to subsidiarisation saying this would facilitate the synergy of the two PSUs. “Nobody is against the merger per se. But if one company is made a subsidiary of the other, the idea behind the synergy would fail. Opting for the subsidiary route is not going to deliver the desired results of synergy, cost reduction and unified command,” MTNL chairman and managing director RSP Sinha said. “MTNL is a listed company and it will have to maintain an arm’s length distance with the holding company (BSNL),” he said adding forward or reverse merger, it should be given preference as an option.