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| Exchange Disseminated Time | Nesco Ltd has informed BSE that at the Board meeting held on September 22, 2004, the Board has approved the Scheme of Amalgamation, under Section 391 / 394 of the Companies Act, 1956, of Indabrator Ltd with the Company.
The salient features of the Scheme of Amalgamation are as follows:
i) The Scheme is for the amalgamation of Indabrator Ltd with the Company.
ii) Upon the Scheme becoming effective, the shareholders of Indabrator Ltd would be issued equity shares of the Company in the ratio of 1 share for every 1 share held in Indabrator Ltd.
iii) The appointed date for the Scheme is proposed to be July 1, 2004.
iv) The Scheme would be subject to approval of the requisite majority of the shareholders, creditors, other authorities and the Bombay High Court.
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