Aditya Birla Nuvo approves merger proposal
Diversified conglomerate Aditya Birla Nuvo???s (ABNL) board has noted and approved in-principle the proposal of merger of Aditya Birla Minacs IT Services and Aditya Birla Minacs Technologies into Aditya Birla Minacs Worldwide, subsidiaries of ABNL. The board gave its approval at its meeting held on July 30, 2010. The appointed date for the above scheme of arrangement shall be April 01, 2010. Meanwhile, the approval is subject to necessary approvals including the sanction of the High court of Judicature of Karnataka.
Aditya Birla Nuvo, an AV Birla Group company traces its origin to a modest beginning with the acquisition of Indian Rayon Corporation, a viscose filament yarn manufacturing unit, in 1963.
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