Essar Steel Board approves delisting
Essar Steel Board on Monday approved the delisting of the company's shares from the bourses and decided to seek shareholders' nod for the purpose.
By PTI |
MUMBAI: Essar Steel Board on Monday approved the delisting of the company's shares from the bourses and decided to seek shareholders' nod for the purpose.
The Board of Directors at its meeting has decided to obtain the consent of shareholders to delist the shares of the company from Bombay Stock Exchange and National Stock Exchange, a company filing to the bourses said.
The Board also approved the appointment of Rewant Ruia as an additional director of the company and Robin Banerjee as Director (Finance) with effect from February one, it said.
Banerjee will replace V G Raghavan who has resigned as director (finance), although he would remain a member of the board as non-executive, non-independent director.
Last week, Ruias-controlled Essar group had said it will delist its steel and oil arms from stock exchanges to gain more flexibility in running the companies.
Essar Steel Holdings Ltd and Essar Energy Holdings Ltd, the parent companies and largest shareholders of Essar Steel and Essar Oil, had sought delisting from BSE and NSE.
The Board meeting of Essar Oil will be held on Tuesday to get the board's consent for the delisting of its shares.
The Board of Directors at its meeting has decided to obtain the consent of shareholders to delist the shares of the company from Bombay Stock Exchange and National Stock Exchange, a company filing to the bourses said.
The Board also approved the appointment of Rewant Ruia as an additional director of the company and Robin Banerjee as Director (Finance) with effect from February one, it said.
Banerjee will replace V G Raghavan who has resigned as director (finance), although he would remain a member of the board as non-executive, non-independent director.
Last week, Ruias-controlled Essar group had said it will delist its steel and oil arms from stock exchanges to gain more flexibility in running the companies.
Essar Steel Holdings Ltd and Essar Energy Holdings Ltd, the parent companies and largest shareholders of Essar Steel and Essar Oil, had sought delisting from BSE and NSE.
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The Board meeting of Essar Oil will be held on Tuesday to get the board's consent for the delisting of its shares.
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