Precot Mills Ltd to merge Meridian Industries Ltd with itself

Precot Mills Ltd. has announced regarding the proposed merger of Meridian Industries Limited (Meridian) a group Company in the same line of business, with the Company as detailed below:- (i) The Honourable High Court of Madras has approved the merger vide its order dated August 30, 2006 / September 01, 2006. (ii) As per the approved Scheme of Amalgamation, the appointed date for the above merger is April 01, 2006 and the effective date is September 26, 2006 being the date on which certified copy of the orders passed by the High Court of Madras sanctioning the scheme of Amalgamation was filed with the Registrar of Companies, Coimbatore. (iii) The Clause relating to conduct of the business from the appointed date till the effective date reads as below: "Income and profits or expenses and losses incurred by the transferor company on and from the appointed date upto the effective date shall, for all purposes, be treated as the income, profits expenses or losses respectively of the transferee company.

Source : Equity Bulls

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