Dabur India update on merger of Balsara Companies

Dabur India Ltd has announced that on filing of the certified true copy of the Order dated September 12, 2006 of the Hon’ble High Court of Delhi on September 28, 2006 with the office of Registrar of Companies, NCT of Delhi & Haryana the three Balsara companies i.e. Balsara Hygiene Products Ltd, Balsara Home Products Ltd & Besta Cosmetics Ltd, stand merged with the Company w.e.f. September 28, 2006.

As per clause 5.1 of the Scheme, the Company shall issue and allot to the equity shareholders (other than transferee Company i.e. the Company) of Balsara Hygiene Products Ltd 7 equity shares of the face value of Re 1 each of the Company, for every 2 equity shares of the face value of Rs 10 each of Balsara Hygiene Products Ltd held by them. As on date Balsara Hygiene Products Ltd has 72 equity shareholders (other than the Company and Balsara Home Products Ltd - the shares held by these two companies are to be cancelled pursuant to terms of the Scheme) holding 18096 equity shares and as per approved swap ratio 63336 equity shares of Re 1 each of the Company are to be issued to them.

Further the Company has informed that the Board of Directors of the company has fixed October 20, 2006 as the record date for shares of Balsara Hygiene Products Ltd (BHPL), for ascertaining the names of shareholders / beneficial owners holding equity shares of BHPL, who would be entitled for the allotment / issue of equity shares of the Company.

Source : Equity Bulls

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