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| Exchange Disseminated Time | Visa Steel Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 18, 2014, inter alia, had considered and approved the Scheme of Amalgamation of Kalinganagar Special Steel Private Limited with VISA Steel Limited and their respective shareholders and creditors ('the Scheme') under sections 391 to 394 of the Companies Act, 1956. No shares are proposed to be issued pursuant to the Scheme, since Kalinganagar Special Steel Private Limited is wholly owned subsidiary of VISA Steel Limited.
The said Scheme is subject to approval of High Court of Orissa and other statutory authorities as may be applicable. |
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