The meetings of Shareholders and Creditors of IndianOil were held on 22nd February, 2008 at Mumbai to approve the Scheme of Amalgamation for merger of Bongaigaon Refinery & Petrochemicals Ltd. (BRPL) with Indian Oil Corporation Ltd. The meetings were convened as per the orders of the Ministry of Corporate Affairs (the competent authority to approve amalgamation of Government Companies).
The results of the poll conducted at the aforesaid meetings pursuant to Section 391-394 of the Companies Act based on members / creditors present and voting are as under :
|
 |
Result of Shareholders Meeting
| |
Votes 'in favour' |
Percentage of votes |
Votes 'against' |
Percentage of votes |
| Shareholders' Meeting |
967130488 |
99.9998 % |
1974 |
0.0002 % |
|
|
Result of Secured Creditors Meeting
| |
Votes 'in favour' |
Votes against |
| Secured Creditors |
100% |
NIL |
|
|
Result of Unsecured Creditors Meeting
| |
Votes 'in favour' |
Votes against |
| Unsecured Creditors |
100% |
NIL |
|
|
| The Scheme of Amalgamation has been approved by the Shareholders, Secured Creditors and Unsecured Creditors of IndianOil. |