Merger of Steel Psus
The Minister of State in the Ministry of Steel, Shri A. Sai Prathap has said that Bharat Refractories Limited (BRL) has been merged with Steel Authority of India Ltd. (SAIL) with effect from 1.04.2007 by an Order No.24/8/2008-CL-III, dated 28.7.2009 of the Ministry of Company Affairs (MCA). The Order of MCA was filed by SAIL with the Registrar of Companies on 27.8.2009. Thus, the process of amalgamation of BRL with SAIL has been completed and BRL stands dissolved on and from the appointed date i.e. 1.4.2007. BRL has been renamed as “SAIL Refractory Unit (SRU)”.
In a written reply in the Lok Sabha today he said, the Union Cabinet had approved the merger of Sponge Iron India Limited (SIIL) with National Mineral Development Corporation (NMDC) in its meeting held on 22.5.2008. After approval of the Government, the two companies have completed all the requisite statutory compliances and the competent authority of MCA has recently passed an order approving the scheme of merger of SIIL with NMDC. A certified copy of the Order of MCA has to be filed with the Registrar of Companies, Hyderabad by both NMDC and SIIL for effecting the merger. With the filing of the requisite documents with the Registrar of Companies by NMDC and SIIL, the merger process will be completed.
The Minister of State in the Ministry of Steel, Shri A. Sai Prathap has said that Bharat Refractories Limited (BRL) has been merged with Steel Authority of India Ltd. (SAIL) with effect from 1.04.2007 by an Order No.24/8/2008-CL-III, dated 28.7.2009 of the Ministry of Company Affairs (MCA). The Order of MCA was filed by SAIL with the Registrar of Companies on 27.8.2009. Thus, the process of amalgamation of BRL with SAIL has been completed and BRL stands dissolved on and from the appointed date i.e. 1.4.2007. BRL has been renamed as “SAIL Refractory Unit (SRU)”.
In a written reply in the Lok Sabha today he said, the Union Cabinet had approved the merger of Sponge Iron India Limited (SIIL) with National Mineral Development Corporation (NMDC) in its meeting held on 22.5.2008. After approval of the Government, the two companies have completed all the requisite statutory compliances and the competent authority of MCA has recently passed an order approving the scheme of merger of SIIL with NMDC. A certified copy of the Order of MCA has to be filed with the Registrar of Companies, Hyderabad by both NMDC and SIIL for effecting the merger. With the filing of the requisite documents with the Registrar of Companies by NMDC and SIIL, the merger process will be completed.
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