India: Jindal Drilling considers scheme of amalgamation, arrangementadmin
Saturday, August 26th 2006
Jindal Drilling and Industries Ltd today said it has considered the scheme of amalgamation of Discovery Hydrocarbons Pvt Ltd and Newsco Newtech Pvt Ltd with itself.
The board of directors at its meeting held today also took on record the scheme of arrangement (demerger) between Haryana Engineering Ltd (name changed to Haryana Capfin Ltd) and itself, the company informed the Bombay Stock Exchange.
The orders dated July 27, of Punjab and Haryana High Courts sactioned the said schemes of amalgamations and arrangement.
Both the schemes have become effective from August 14 and are operational from April 1, 2005.
The company also reappointed Naresh Kumar as its managing director for a further period of five years.
Shares of the company were trading at Rs 306, up 0.31 per cent at the BSE.