Ramkaashyap in merger move

CHENNAI: The management of Ramkaashyap Investment is proposing to merge the struggling company with a Shriram group company. This has been communicated to preference shareholders in separate yet identical letters by the Managing Director of the company, Mr. A. Venkataramani. The letter has requested the preference shareholders to either opt for conversion of their matured redeemable preference shares into equity shares in the merged company or wait for redemption till the merger process is completed. Top Shriram group sources have, however, made it clear that they have not made any commitment on Ramkaashyap's overtures.

- Our Special Correspondent

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Section  : Business
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