India Securities gets approval for scheme of amalgamation

India Securities has received an approval for the scheme of amalgamation of ETHL Communications Holdings, a wholly owned subsidiary of the company with itself. The company has received the approval at its board meeting held on May 16, 2011.

Further the amalgamation shall be subject to requisite sanctions and approvals as may be required.

India Securities is promoted by Essar (Ruia) group and is a subsidiary of Essar Investments. It is into the business of finance, corporate advisory services, project finance, intermediation services project money and foreign exchange markets.