Mumbai, September 8 2009: Board of directors of Modern India Limited in its meeting held on 7th September 2009 resolved to amalgamate Indian Institute of Jewellery Limited [IIJL] with it.
Pursuant to the draft scheme of amalgamation approved by the Board of Directors of Modern India Limited, whole of the undertaking of the IIJL will stand amalgamated subject to approval from concerned authorities and stakeholders.
IIJL is an autonomous vocational training institute, impart education in jewellery design, manufacturing, marketing and jewellery related areas. IIJL has tie up with University of Mumbai and many other educational institutions. It has recently opened a franchise at Bhopal in Madhya Pradesh. IIJL also has Gem Testing Laboratory wherein certification of precocious stones is issued.
Under the stewardship of Mr. Vijay Kumar Jatia, CMD, Modern India Ltd, the company has become a well-entrenched conglomerate growing from strength to strength in infrastructure and real estate with interests in other business like education and international marketing of commodities.
Modern India Free Trade Warehousing Pvt. Ltd., a subsidiary of Modern India Ltd., received the 'in-principle approval' from the central govt. for their proposed Free Trade Warehousing Zone under SEZ Act in Taluka Panvel and Modern India Property Developers Limited has received formal approval for IT / ITeS SEZ in Khopoli in land area admeasuring about 34 Acres.
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Union Budget