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Mumbai:
The shareholders of Vashisti Detergents Limited (VDL)
have approved the resolution for amalgamation of the company
with Hindustan Lever Limited at a High Court convened
meeting on Saturday. The motion was approved by 100 per
cent valid votes cast in favour of the resolution.
The
High Court of judicature of Bombay had convened a meeting
of the shareholders of Vashisti Detergents Limited (VDL),
on 24th September, 2005 at the registered office, Chiplun,
to consider the amalgamation of the VDL with HLL.
The
board of directors of HLL had earlier approved the proposal
for amalgamation of VDL. The board had approved the
share exchange ratio of 1:10. The board of VDL had also
approved the proposal for amalgamation with the company
in a separate meeting.
HLL
is India''s largest FMCG company with over 20 categories
in its home and personal care products and foods and
beverages.
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