K'taka HC approves merger of EDS India, MphasiS

Bangalore, July 24 (UNI) MphasiS today announced that Karnataka High Court has approved the merger of EDS Electronic Data Systems India Private Limited (EDS India) with MphasiS Limited, with effect from April one, 2006.

The merger was approved by the shareholders of MphasiS in November 2006. The order of the court had been filed with the Registrar of Companies and with this, the merger of MphasiS and EDS India was complete, MphasiS said in a release here.

MphasiS Chairman Jerry Rao said that with the legal approval now in place, the MphasiS-EDS combine had became a scale player in India which had all along been a key objective. ''We are pleased that in strategic and operational terms, we are proceeding according to plan,'' he said.

The combined entity had nearly 23,000 people on its rolls.

The High Courts in Mumbai and Karnataka had sanctioned the scheme of merger on February two and June 18 this year respectively, and after filing with the Registrar of Companies, it was effective from April one, 2006.

As per the approved scheme of merger, MphasiS Limited would issue 44.11 million shares to EDS. Post this, EDS' consolidated shareholding in MphasiS would be 127.11 million shares, forming about 61 per cent of the share capital of MphasiS Limited.

UNI