(29-Mar-2010 Hours IST)
Colgate Palmolive (India) Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 29, 2010, has considered and approved a Scheme of Amalgamation which provides for the merger of CC Healthcare Products Pvt. Ltd. ('CC Healthcare'), a wholly owned subsidiary of the Company with itself. The Appointed Date for the Scheme of Amalgamation is April 01, 2009. The entire equity share capital of CC Healthcare is held by Colgate Palmolive (India) Ltd. Therefore, upon the Scheme becoming effective the entire equity share capital of CC Healthcare will stand automatically cancelled and there will be no issue and allotment of Shares pursuant to the Scheme. The Scheme of Amalgamation is, inter alia, subject to the necessary approvals under the Companies Act, 1956 including the High Court of Judicature at Andhra Pradesh. Colgate Palmolive (India) Ltd has informed BSE that CC Health Care Products Pvt Ltd a wholly owned subsidiary of the Company had applied to the High Court of Judicature at Andhra Pradesh for sanctioning of the Scheme of Amalgamation of CC Health Care Products Pvt Ltd with the Company from April 01, 2009. The High Court by its order dated August 11, 2010 has sanctioned the said Scheme of Amalgamation. The said amalgamation has become finally effective on September 01, 2010, being the date on which the High Court's order has been filed with the Registrar of Companies, Andhra Pradesh at Hyderabad. (As Per BSE Announcement Dated on 01.09.2010)
Powered by Capital Market - Live News