At meeting held on 31 March 2016
Kilburn Engineering announced that the Board of Directors of the Company at its meeting held on 31 March 2016 considered and approved a scheme of amalgamation amongst EMC, McNally Bharat Engineering, McNally Sayaji Engineering and Kilburn and their respective shareholders. Currently, EMC and Kilburn hold 28.24% and 1.69% of the paid up share capital of McNally Bharat. Further, McNally Bharat holds 74.86% of the paid up capital of McNally Sayaji.The scheme involves, inter-alia, amalgamation of EMC, McNally Bharat and McNally Sayaji with Kilburn including change of Kilburn name to 'McNally Bharat Engineering'.
The boards of EMC, McNally Bharat and McNally Sayaji on their respective meetings held on 31 March 2016 have also approved the scheme.
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