Cholamandalam Investment and Finance Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 30, 2012, inter alia, has considered and approved a Scheme of Amalgamation of the Company's wholly owned subsidiary viz. Cholamandalam Factoring Ltd. (CFACT) with the Company, subject to the approval of shareholders, creditors, regulatory authorities, etc. and sanction of the Scheme by the Hon'ble High Court of Judicature at Madras. The proposed "Appointed Date" for amalgamation is April 01, 2012.
Subscribe to GoodReturns