Crompton Greaves has received an approval for the proposed scheme of amalgamation of CG Capital and Investments (CGC) (the Transferor Company), a 100% subsidiary, with Crompton Greaves (the Transferee Company), the holding company. The company has received an approval from High Court of Bombay. Also, the High Court order has been filed with the registrar of companies, Mumbai and the scheme has become effective on September 20, 2011 and the appointed date being April 01, 2010.
Further, the amalgamation has resulted into increase in the authorized share capital of the company by Rs 85 crore comprising 425,000,000 equity shares of Rs 2 each. Since CGC is 100% subsidiary of the company, the entire paid up share capital of CGC would be cancelled and the Transferor Company stands dissolved without winding-up.
Crompton Greaves is engaged in designing, manufacturing and marketing electrical products and services related to power generation, transmission and distribution.
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