Shareholders voted at their meeting on 17 April 2006 to approve the merger of Gujarat-based Alembic Glass Industries Ltd. with Shreno Ltd.
The company will file a petition with the Gujarat High Court…
Shareholders voted at their meeting on 17 April 2006 to approve the merger of Gujarat-based Alembic Glass Industries Ltd. with Shreno Ltd. The company will file a petition with the Gujarat High Court to obtain approval for the amalgamation, the company informed the Bombay Stock Exchange. Following the amalgamation, Alembic Glass will be delisted from the stock exchange. Alembic Glass Industries and Shreno Ltd. are subsidiaries of Alembic Ltd., which decided on the amalgamation and delisting in order to protect its shareholders from impending liabilities at Alembic Glass Industries. Alembic Glass Industries has produced glassware under the widely-known Yera brand for 50 years.