ITC Bhadrachalam Shareholders overwhelmingly approve merger with ITC
22 Dec '01
The Andhra Pradesh High Court-convened meeting of the Shareholders of ITC Bhadrachalam Paperboards Limited took place on the 14th of December, 2001 at the Hari Hara Kala Bhavan, Secunderabad under the Court-appointed Chairmanship of Justice S. Dasaratharama Reddi (Retd.) to consider a resolution proposing the amalgamation of ITC Bhadrachalam Paperboards Limited with ITC Limited. The result of the poll was overwhelmingly in favour of the amalgamation with nearly 98% voting in favour of the resolution.
The poll results are appended below:
| Number of Members | Number of Votes | ||
| A. | In favour of the Resolution | 905 | 6,90,22,672 |
| B. | Against the Resolution | 35 | 16,23,334 |
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| Total: | 940 | 7,06,46,006 |
The Chairman of the meeting declared that the resolution had been passed by the requisite majority.
