Breaking News

You are here » Indian-Commodity  :  Top News  :  Gallantt Ispat gets nod for scheme of amalgamation

16-Jan2018

Gallantt Ispat gets nod for scheme of amalgamation

Gallantt Ispat has received approval from Ministry of Corporate Affairs for the Scheme of Amalgamation of Shikharji Rolling Mills, Shikharji Steel & Agro Products, Bhavika Steel Agencies, Shrinu Agro, Shrinu Steel Works, Gyanika Flour Mills, Satlaj Ispat and Satlaj Flour Mills (hereinafter together referred to as 'Eight Subsidiaries') with the company, on January 08, 2018 . Pursuant to the approval of the Scheme of Amalgamation of Eight Subsidiaries and corresponding shareholding of these Eight Subsidiaries and along with the company in Bhavika Smeltors and Food Products, Shrinu Rolls and Milling, Satlaj Rolls and Milling and Antarmukh Steel Manufacturer (hereinafter together referred to as 'Four Subsidiaries'), these Four Subsidiaries have gained status of Wholly Owned Subsidiaries of the company. Hence, company has acquired four Wholly-Owned Subsidiaries through acquisition of entire shareholding of these Four Subsidiaries. The board of directors at its meeting held on January 15 has taken note of it.

Gallantt Ispat is engaged in the manufacturing and marketing of sponge iron, mild steel billets, re-rolled products (TMT bars and mild steel structural) and wheat flour products.


Related News

View all news

Crude oil futures end lower on Monday

Crude oil futures ended lower on Monday as steep declines in the US stock market fed an aversion to so-called riskier assets, which include oil. Meanwhile, the US-China trade dispute escalated as China......

Gold futures trade flat on Monday

Gold futures was trading flat on Monday as growing uncertainty over whether the United States and China will be able to reach a deal to end their escalating trade war fueled safe-haven demand for the precious......

Jeera futures trade higher on rising demand

Jeera futures traded higher on NCDEX on the back of rising physical and export demand at the spot market. However, higher availability of crop this season, capped some gains.The contract for May delivery......

Top News

View all news

SRF, NIIT Technologies and United Bank of India to see some action today

SRF has entered into a definitive agreement to sell its Engineering Plastics Business to DSM, the Life Sciences and Materials Sciences Company in an all-cash transaction, amounting to Rs 320 crore. The......

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......