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India: More time required for order on NSEL-FTIL merger

By  |  April 6, 2015

The ministry of corporate affairs, granted time to issue a final order on the merger by April 6, has sought three months more from the Bombay High Court to review and consider more than 19,000 objections received from FTIL shareholders and related parties before passing an order.

The HC is hearing an FTIL petition opposing the merger. It directed the government on February 4 to consider all objections before passing a final order. A final order for the merger, if passed by April 6 as directed by the HC on February 4, would not be implemented for two weeks to give FTIL a chance to move the court.

 

Full Content: The Economic Times

 

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