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Ganesh Housing Corporation’s board, at the meeting held on 15 March 2007, approved the scheme of Amalgamation of Ramasagar Infrastructure (RIPL), Nachiket Properties (NPPL), Manjari (Thaltej) Complex (MCPL), Shaharsh Infrastructure (SIPL) and Ganesh Infrastructure (GIPL) with the company.
The proposed amalgamation is in line with the trends prevailing in the industry and it will enable the company to achieve scale, size, integration and enhanced financial capability along with the flexibility of pursuing future growth plans.
The company has fixed 1 October 2006 as an appointed date for amalgamation.
Transferor companies i.e. RIPL, NPPL, MCPL and SIPL own a total of 14.77 acres of land at prominent places in and around Ahmedabad. GIPL is Setting up IT SEZ on 135 acres of land. GIPL has already received the approval from Central Government for setting up IT SEZ at a prime location in Ahmedabad.
Post amalgamation, company’s paid up share capital will increase to Rs 32,65,58,800.
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