CMI has received an approval for Scheme of Amalgamation of CMI Energy India with the company. The Board of Directors of the company at their meeting held on May 21, 2018, approved the same.
The CMI Energy India is a wholly owned subsidiary of CMI and hence no new shares shall be issued on Amalgamation. Further, since the present Scheme solely provides for amalgamation of wholly owned subsidiary with its parent company, no formal approval, NOC or vetting is required from the Stock Exchange or SEBI for the Scheme, in terms of the provisions of the SEBI Regulations.
CMI is a supplier of cable accessories, cables, conductor cables, electric cable accessories, equipment, and machinery.