Shilchar Electronics to merge Shilchar Payton Technologies with itself

Shilchar Electronics Ltd has announced that the Board of Directors of the Company at its meeting held on September 29, 2006 has accorded their approval to pursue a Scheme of Arrangement in the nature of merger of Shilchar Payton Technologies Ltd (SPTL), being the wholly owned subsidiary company, with the Company, its holding company.

Further the Company has informed that it has begun the necessary formalities involved therein for seeking the approval of the Honble High Court of Gujarat at Ahmedahad.

Source : Equity Bulls

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