Shaw Wallace may merge with United Spirits 'shortly'

Tuesday, 30 December 2008, 02:41 Hrs
Printer Print Email Email
Kolkata: Beverages major Shaw Wallace may "shortly" get approval for merging with the Vijay Mallya-led United Spirits, a top official said here Monday.

"The hearing has been completed. Only the judgement in being awaited from the Kolkata high court," Shaw Wallace managing director S.D. Lalla said on the sidelines of the company's annual general meeting.

Shaw Wallace shareholders approved the merger with United Spirits April 25 this year at a court-convened meeting.

"The matter has already been approved by high courts of Bangalore and Mumbai. It wouldn't be proper for me to comment on why this is getting delayed," Lalla said.

Following the delay, Shaw Wallace has withdrawn an application before the Company Law Board to shift its registered office from West Bengal to Karnataka.

United Breweries Group took over Shaw Wallace from the Manu Chhabria-controlled Jumbo World Holding Ltd in 2005.
Source: IANS
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..