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CRISIL Updates on merger of Irevna
Posted On : 2007-03-22 06:04:06( TIMEZONE : IST )
With reference to the earlier announcement dated February 27, 2007 regarding the Board of Directors of Company at its meeting held on February 27, 2007, had approved merger of CRISIL Research and Information Services Ltd, CRISIL Properties Ltd and Global Data Services of India Ltd, all wholly owned subsidiaries of the Company with the Company ('Scheme of Amalgamation'), CRISIL Ltd has announced that on March 22, 2007, the Board of Directors of the Company has approved the proposal for merger of Irevna Research Services Ltd ('Irevna'), a wholly owned subsidiary of the Company with the Company. The Board has also approved the merger of Irevna to form part of the above Scheme of Amalgamation approved by the Board as on February 27, 2007.
The Board also approved the scheme incorporating the proposed arrangement for merger of the subsidiaries with effect from April 01, 2007 subject to the requisite approvals. No shares will be issued pursuant to the scheme since the entire share capital of the subsidiaries is held by the Company.
