Texmaco, Kalindee Rail gets High Court’s nod for Merger

Kolkata: Texmaco Rail & Engineering and Kalindee Rail Nirman (Engineers) have received Delhi High Court’s approval to merge the latter with former, the companies notified the bourses.

The merger plan was approved by the boards of the company in May 2014.

“The company and Texmaco will make the scheme effective in accordance with its provisions, read with the orders of the High Court of Calcutta and the High Court of Delhi, and applicable regulations, including the SEBI (listing obligations and disclosure requirements) Regulations, 2015 and the SEBI Circular dated November 30, 2015,” Kalindee said in a statement to the bourses on Wednesday.

Texmaco, a Kolkata-based rail wagon manufacturer, acquired controlling stake in Kalindee Rail through an open offer, outbidding Jaipur-based engineering company Jupiter Metal in 2013.