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Shriram Trans.Fi - Outcome of Board Meeting

By Religare

Shriram Transport Finance Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 26, 2015, has approved the draft Scheme of Amalgamation ('Scheme') under section 391 to 394 of the Companies Act, 1956 and other applicable provisions of the Companies Act, 2013 of Shriram Equipment Finance Company Limited (SEFCL) with Shriram Transport Finance Company Limited, subject to approval by the High Court, Shareholders, Creditors and other relevant regulatory authorities as may be necessary.

As per the Scheme, SEFCL a wholly owned subsidiary of the Company will be amalgamated with Shriram Transport Finance Company Limited. No consideration will be discharged by the Company since SEFCL is the wholly owned subsidiary of the Company.

Story first published: Friday, June 26, 2015, 23:00 [IST]
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