GOVERNMENT ANNOUNCES MERGER OF SPONGE IRON INDIA LIMITED AND NATIONAL MINERAL DEVELOPMENT CORPORATION LIMITED

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The Government has announced merger of two Andhra Pradesh based public sector companies Sponge Iron India Limited (SIIL) and National Mineral Development Corporation Limited (NMDC).

In a written reply in the Lok Sabha, Corporate Affairs Minister Salman Khurshid said petitions had been filed for the amalgamation by the SIIL and the NMDC before the Ministry of Corporate Affairs in the Central Government under section 391-394 of the Companies Act, 1956.

The Ministry of Corporate Affairs by virtue of notification considered the said scheme under sections 391-394 of the Companies Act, 1956.

The order in respect of proposed Scheme of Amalgamation had been issued on January 18, 2010.

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