Rallis
Board approves merger of its subsidiaries
May 2, 2001
The
board of directors of Rallis India Ltd. at a meeting
held on Wednesday, May 2, 2001, have approved
the merger of the following wholly-owned subsidiaries
of the company with Rallis India Ltd., subject
to receiving necessary approvals/ consents under
applicable laws:
- Ralchem
Ltd.
- Rallis
Finance and Investments Co. Ltd.
- Rallis
Hybrid Seeds Ltd.
- Rallis
Farm Management Services Ltd.
- Sankhya
Garments Ltd.
The
decision to merge the subsidiary companies has
been taken to ensure administrative simplicity,
operational synergies and savings in cost. There
is a great deal of similarity in the business
of these companies.
The
appointed date of the merger of all the above
subsidiary companies shall be April 1, 2001.
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