Birla Global Finance Ltd merged with Aditya Birla Nuvo Ltd

Mumbai, June 30 (UNI) The Scheme of Amalgamation, relating to the merger of Birla Global Finance Ltd (BGFL) with Aditya Birla Nuvo Ltd (ABNL), has been sanctioned by the Gujarat High Court at Ahmedabad.

Earlier in January 2006, the High Court of Judicature at Bombay, gave its approval.

Consequently, necessary filings were completed with the respective ROC offices. The committee of the Board of Directors of ABNL and that of BGFL in their respective meeting held today have declared the Scheme of Amalgamation effective from today.

The Board Committee of ABNL has also fixed Monday, the 17th day of July 2006 as ''Record Date'' as given in the Scheme.Accordingly, the Shareholders of BGFL on the ''Record Date'' Shall be entitled to recieve one equity share of Rs ten each in ABNL credited as fully paid up for every three fully paid up equity shares of Rs ten each held in BGFL.The paid up equity share capital of ABNL will stand increased from Rs 74.92 crore to Rs 83.50 crore on issue of Equity Shares to BGFL Shareholers.

The Board of Directors of ABNL is meeting on July 3rd 2006 to considerthe recasted accounts on the merger of BGFL with ABNL, the release added.

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