SME Times is powered by   
Search News
Just in:   • Exports rise by 16.8 pc to $37.9 bn in June  • Gujarat, Karnataka best states for startups  • Iron Pillar to raise $400 mn to empower Indian tech startups: Report  • Australia scraps requirement to declare Covid vax status for int'l arrivals  • Sri Lanka's petrol stocks about to run dry: Minister 
Last updated: 26 Apr, 2022  

Jindal.9.Thmb.jpg Shareholders, creditors of Jindal Steel & JSHL approve merger scheme

Jindal.9.jpg
   Top Stories
» Exports rise by 16.8 pc to $37.9 bn in June
» Gujarat, Karnataka best states for startups
» June export figures indicate strength of the sector: FIEO
» India-EU conclude 1st round of trade negotiations
» 'Time to move from 'Volume' to 'Value' leadership in Pharma market'
SME Times News Bureau | 26 Apr, 2022
The ongoing merger process of Jindal Stainless Limited (JSL) and Jindal Stainless (Hisar) Limited (JSHL) has achieved another milestone as they convened meetings of their shareholders and creditors for approving the Scheme of Arrangement between the two companies.

Notably, the scheme of merger was approved by an overwhelming majority, it said in a statement.

The meetings to approve the Scheme of Arrangement were organised on April 23, pursuant to the order pronounced by the National Company Law Tribunal (NCLT), Chandigarh Bench.

The companies will now file the second motion application with the tribunal, it said in the statement.

Taking note of this crucial accomplishment, Managing Director of Jindal Stainless, Abhyuday Jindal, said: "We are happy that our shareholders and creditors have approved the Scheme of Arrangement for the JSL-JSHL merger by an overwhelming majority. This is a testimony to their confidence that the merger is value-accretive for all stakeholders of both the Companies."

Abhyuday Jindal added it will continue to complete the further processes and hope to complete the merger in FY23.

Founded by O.P. Jindal in 1970, Jindal Stainless is among the largest stainless steel manufacturing companies in India and ranks among the top 10 stainless steel manufacturers in the world.

It has two stainless steel manufacturing complexes in India, in the states of Haryana and Odisha, with an overseas unit in Indonesia.

The company's products range from stainless steel slabs, blooms, coils, plates, sheets, precision strips, blade steel, and coin blanks.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 04 Jul, 2022
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(1)
» China's forex reserves reach USD 2.85 trillion(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter