DCM Shriram Consolidated has received an approval for merger of its 100% subsidiary Bioseed Research India into the company with effect from April 01, 2013 through a scheme of arrangement under the Companies Act, 1956. The board at its meeting held on December 17, 2012 has approved for the same.
The board has also approved to seek shareholders’ approval through postal ballot to take all necessary decisions for rationalizing / restructuring the business (es) of the company with regard to transfer, sell, lease, licence or otherwise dispose of the business, in full or in part, of Swatantra Bharat Mills, Tonk, Rajasthan, a division/undertaking of the company, to a subsidiary or any other person or in any manner on such terms and conditions as the board may deem appropriate.
Further, it has also received approval for transfer, sell, lease, licence, joint venture or otherwise dispose of the business, in full or in part, of Shriram PolyTech Business, Kota, Rajasthan, a division/undertaking of the company, to a subsidiary or any other person or in any manner on such terms and conditions as the board may deem appropriate.
