ITC Shareholders overwhelmingly approve merger proposal
20 Nov '04
The Calcutta High Court-convened meeting of the Shareholders of ITC Limited took place on the 19th November, 2004 at the Science City, Kolkata, under the Chairmanship of Justice G. N. Ray (Retd.), appointed by the Hon'ble Court, to consider a resolution for the amalgamation of ITC Hotels Limited and Ansal Hotels Limited with ITC Limited. The result of the poll was overwhelmingly in favour of the amalgamation with 99.99 per cent voting in favour of the resolution.
The poll results are appended below:
| Number of Members | Number of Votes | Percentage of Votes | ||
| A | In favour of the Resolution | 726 | 17,51,91,474 | 99.99 % |
| B. | Against the Resolution | 28 | 10,859 | 0.01 % |
| Total: | 754 | 17,52,02,333 | 100.00% |
The Chairman of the meeting declared that the resolution was passed with the requisite majority.
| (S H Venkatramani) Head - Corporate Communications |
