MUMBAI: Liquor manufacturer United Spirits on Monday said the Bombay High Court has sanctioned the scheme of amalgamation of Shaw Wallace & Company Ltd and Primo Distributors Ltd with the company.
United Spirits has filed a petition for the merger of Kolkata-based Shaw Wallace & Company Ltd and Primo Distribution Ltd with the company.
The liquor major in a filing to BSE said that the Bombay High Court in its order on July 18 sanctioned the merger, in so far it relates to the amalgamation of Primo with the company.
Earlier, the Karnataka High Court vide its order dated May 29, 2008 had sanctioned the scheme of amalgamation. The company is waiting for sanction from the Calcutta High Court, where the petition for the amalgamation scheme is pending, it added.
In March 2005, Vijay Mallya-promoted United Spirits had entered into an agreement with Shaw Wallace for the merger, where the liquor major held the majority stake, for an undisclosed amount. Shares of the company closed at Rs 1,048.15, down by 0.11 per cent on the BSE. – PTI
www.thehindubusinessline.com
About Me
- Kamal Kumar Pandey (Adv. Supreme Court of India)
- Lawyer Practising at Supreme Court of India. Court Experience: Criminal, Civil & PIL (related to Property, Tax, Custom & Duties, MVAC, insurance, I.P.R., Copyrights & Trademarks, Partnerships, Labour Disputes, etc.) Socio-Legal: Child Rights, Mid Day Meal Programme, Sarva Shiksha Abhiyaan, Women Rights, Against Female Foeticide, P.R.Is, Bonded Labour, Child labour, Child marriage, Domestic violence, Legal Literacy, HIV/AIDS, etc. Worked for Legal Aid/Advise/Awareness/Training/Empowerment/Interventions/Training & Sensitisation.
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