(22-Mar-2013 Hours IST)
Godrej Industries Ltd has informed BSE that the Board of Directors of the Company, have on March 22, 2013, considered and approved the Scheme of Amalgamation of Swadeshi Detergents Limited with Godrej Industries Limited (cheme') and their respective shareholders under sections 391 to 394 of the Companies Act, 1956. No shares are proposed to be issued pursuant to the Scheme since Swadeshi Detergents Limited is a wholly owned subsidiary of Godrej Industries Limited. The Scheme is subject to approval of the Hon'ble High Court of Judicature at Bombay, and the shareholders and creditors, if any, of Swadeshi Detergents Limited, as may be directed by the Hon'ble High Court of Judicature at Bombay. The merger being of a 100% subsidiary Company into Godrej Industries Limited, a specific dispensation will be sought from the Hon'ble High Court of Judicature at Bombay from filing the application / petition by Godrej Industries Limited and accordingly, Godrej Industries Limited will not be required to file a petition with any High Court.
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