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Kirloskar Oil

  • Kirloskar Oil Engines Limited had informed the Exchange regarding the Company has become a subsidiary Company of Kirloskar Brothers Investments Limited (KBIL) by taken together total holding of KBIL along with holding Pooja Credits Private Limited (PCPL - a wholly owned subsidiary of KBIL) as per Section 4(3)(b)(ii) read with Section 4(3)(d) of the Companies Act, 1956. The company has now informed the Exchange that as informed by KBIL vide its letter dated December 30, 2011, 1,27,51,567 equity shares of PCPL are transferred to KBIL pursuant to Scheme of Amalgamation between PCPL and KBIL duly approved by Hon'ble High Court, Bombay vide its order dated November 18, 2011 (effective from December 05, 2011).Accordingly, KBIL holds 7,59,64,859 (52.17%) equity shares in the Company as on date. Consequently, the Company has now become a subsidiary of KBIL as per Section 4(3)(b)(ii) of the Companies Act, 1956.

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