High Court approves IVRCL merger
Andhra Pradesh High Court has approved the merger of subsidiary IVRCL Assets and Holdings with the parent company, infrastructure firm IVRCL.
A composite Scheme of Arrangement has been made between IVRCL Ltd and IVRCL Assets & Holdings Ltd and two subsidiary companies RIHIM Developers Private Ltd and IVRCL TLT Private Ltd.
As per Scheme of Arrangement, IVRCL Assets & Holdings’ real estate business will be demerged into RIHIM Developers Private Ltd, while its remaining assets will get merged with parent firm, IVRCL.
RIHIM Developers Private Ltd will remain a wholly-owned subsidiary of IVRCL.
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Source: Economic Times
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