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| Exchange Disseminated Time | Ion Exchange India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 06, 2012 inter alia approved the following:
1. Approved IN PRINCIPLE the proposal for amalgamation of ION EXCHANGE SERVICES LIMITED (IESL) with the Company, pursuant to the provision of Sections 391 to 394 read and other applicable provisions, if any, of the Companies Act, 1956, and the provision of Sub clause no. ‘24’of Clause ‘3’ Of ‘Object for which the Company is established’ of the Memorandum of Association and provision of the Article of Association of the Company and subject to requisite approvals / consents / sanctions and permissions of the appropriate authorities, if necessary and subject to the approval of the Bombay Stock Exchange and Hon’ble Court of Judicature at Bombay and Equity Shareholders as well as the creditors of the Company, as may be directed by the Hon’ble High Court.
2. Appointed M/s. Grant Thornton India LLP, reputed advisory firm, as Valuers for carrying out share valuation for deciding fair share swap ratio for the shareholders of IESL. |
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