Date:02/09/2006 URL: http://www.thehindu.com/2006/09/02/stories/2006090218090400.htm

New Delhi

Court approves merger

Staff Reporter

NEW DELHI: The Delhi High Court has approved amalgamation of Ansal Township Projects Limited (ATPL), an unlisted real estate developer company, with Ansal Properties and Infrastructure Limited (APIL).

Under the scheme approved by the High Court, the amalgamation is to be discharged by allotment of one equity share of Rs. 5 each of APIL for every two equity shares of Rs. 2 each held in ATPL.

Both companies are engaged in the business of acquisition, development and sale in the real estate sector. The management of both companies believed that the amalgamation would result in enhanced leveraging of the capability of the combined entity, a release said.