Held on 22 March 2016
McNally Bharat Engineering Company announced that the Board of Directors of the Company at its meeting held on 22 March 2016 has :1. Approved in principle a proposal to merge the Company, its subsidiary McNally Sayaji Engineering and EMC with Kilburn Engineering and;
2. Agreed to form a Committee with a Representative from each of the aforesaid Companies to oversee the preparation of a draft Scheme of Amalgamation and appoint such professionals as it deems fit to obtain valuation to determine the Share Exchange Ratio and drafting the Scheme of Amalgamation and to do all such acts, deeds and things as may be necessary for the above purpose and to report back to the respective Board of Directors in due course.
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