Shree Renuka Sugars has received its board’s approval to amalgamate its wholly owned overseas subsidiary, Renuka Commodities DMCC, UAE, (Renuka DMCC) into itself. The company’s board gave their approval for the same at its meeting held on September 16, 2015.
The amalgamation is subject to the approval of the shareholders, creditors, stock exchanges, the High Court of Karnataka pursuant to the provisions of Sections 391 to 394 of the Companies Act, 1956 and other statutory and regulatory authorities, as applicable.
Shree Renuka Sugars is a global agribusiness and bio-energy corporation. The company is one of the largest sugar producers in the world, the leading manufacturer of sugar in India, and one of the largest sugar refiners in the world.
