Advertisement

HindustanTimes Fri,11 Jul 2014

Hindalco and Indo Gulf's Restructuring Scheme Becomes Effective

business2media, PTI  Mumbai, February 14, 2003
First Published: 13:08 IST(14/2/2003) | Last Updated: 13:08 IST(14/2/2003)
The Board of Directors of Hindalco Industries Limited and Indo Gulf Corporation Ltd, the Aditya Birla Group Companies in their earlier meetings of 21st July 2002 had approved the restructuring proposal relating to the consolidation of the copper business of Indo Gulf with Hindalco and the demerger of Indo Gulf's urea fertilizer business as an independent entity.

The Boards of these Companies in their respective meetings today have taken the process to its conclusion.

While the Boards had approved the amalgamation with Hindalco with 1st April 2002 as the appointed date, the Board of Directors of Hindalco have made the scheme effective from 12th February 2003 having received all the necessary approvals.

Advertisement

The Board of Indo Gulf have set the record date as 13th March 2003. Accordingly one share of Hindalco will be issued to the shareholders of Indo Gulf for every 12 shares held by them as on the record date.

Media contact details

Dr Pragnya Ram,
Aditya Birla Group,
+91 (22) 284 5826


Advertisement
more from Business

Good news for salaried class: Jaitley's budget will help you save more

Finance minister Arun Jaitley raised the exemption limit in personal income tax from Rs 2 lakh to Rs 2.5 lakh. He also raised the tax exemption limit for investments to Rs 1.5 lakh from the current Rs 1 lakh under Section 80C of the Income Tax Act. FM Arun Jaitley promises higher growth | Full text of speech | Poll: Rate the budget on a scale of 0 to 5
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved