United Credit Ltd acquires stake in United Credit & Development Company Ltd

United Credit Ltd has announced that the pursuant to the decision taken in the Board Meeting held on October 26, 2006, the Company has applied for 40,00,000 Equity Shares of Rs 5/- each of United Credit & Development Company Ltd. The Company has received Allotment Advice on November 06, 2006.

In view of this allotment of shares in favour of the Company, United Credit & Development Company Ltd becomes subsidiary of the Company.

Source : Equity Bulls

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