CCL International has received an approval for the proposed scheme of amalgamation to merge AAR Infrastructure, a group company with itself along with the equity swap ratio of fifty equity shares of Rs 10 each in the company for every 100 equity shares of Rs 10 each in AAR Infrastructure or post split of two hundred fifty equity shares of Rs 2 each in the company for every 100 equity shares of Rs 10 each in AAR Infrastructure. The company received the board’s approval at its meeting held on July 30, 2011.
Presently, AAR Infrastructure is involved in the business of development of civil construction projects like Roads, Sewer Drains, Bridges, Pipelines etc, and has recently received certain final as well as preliminary work orders against the tenders for construction of Roads, Site clearance Earth work, Erosion control & Drainage and construction of Pavement etc. in the state of Meghalaya from the P.W.D. Roads, Meghalaya, Shillong, Government of Meghalaya. It is also planning to get involved in residential and commercial real estate development projects.
The company is also diversifying in the field of real estate development and this scheme would enable the consolidation of businesses. The scheme of amalgamation is subject to approval of shareholders and creditors of the companies and also subject to the sanction by High Court of Delhi.
CCL International manufactures and markets cement and is based in New Delhi, India.
