At meeting held on 11 February 2015
Grasim Industries announced that the Board of Directors of the Company at its meeting held on 11 February 2015, has considered and approved a proposal to merge Aditya Birla Chemicals (India) with the Company in terms of a Scheme of Amalgamation u/s 391-394 of the Companies Act, 1956 ("the Scheme") subject to all regulatory approvals.The finalized Scheme will be filed with the Stock Exchanges as per the applicable provisions of Clause 24 of the Listing Agreement.
The proposed Scheme will inter alia require the approval of the Competition Commission of India, SEBI, the High Court of Judicature at Madhya Pradesh, Bench Indore & the High Court of Jharkhand at Ranchi and the Shareholders/ Creditors of the respective companies.
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