At meeting held on 18 December 2014
Visa Steel announced that the Board of Directors of the Company at its meeting held on 18 December 2014, inter alia, had considered and approved the Scheme of Amalgamation of Kalinganagar Special Steel with VISA Steel and their respective shareholders and creditors ('the Scheme') under sections 391 to 394 of the Companies Act, 1956. No shares are proposed to be issued pursuant to the Scheme, since Kalinganagar Special Steel is wholly owned subsidiary of Visa Steel.The said Scheme is subject to approval of High Court of Orissa and other statutory authorities as may be applicable.
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