Texmaco Rail & Engineering and Kalindee Rail Nirman (Engineers) have received Delhi High Court’s approval to merge. Texmaco, a Kolkata-based rail wagon manufacturer, acquired a controlling stake in Kalindee Rail through an open offer, outbidding Jaipur-based engineering company Jupiter Metal in 2013. The merger plan was approved by the boards of the company in May 2014.
“The company and Texmaco will make the scheme effective in accordance with its provisions, read with the orders of the High Court of Calcutta and the High Court of Delhi, and applicable regulations, including the SEBI Regulations, 2015 and the SEBI Circular dated 30 November 2015,” Kalindee said.
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