Herbertsons gets HC approval for merger
Bangalore: Herbertsons has informed the Bombay Stock Exchange that the Bombay High Court had on July 31, 2006, approved the composite scheme of arrangement in respect of the amalgamation of the company with McDowel & Company Ltd.

With this, the scheme has now been sanctioned in the case of McDowell & Company Ltd, the Company, Phipson Distillery Ltd, United Spirits Ltd, United Distillers India Ltd, McDowell International Brands India Ltd and McDowell India Spirits Ltd. Approval for remaining companies viz., Shaw Wallace Distilleries, Baramati Grape Industries and Triumph Distillers & Vintners, of the Bombay High Court is expected shortly, after which the Scheme will be effective.
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Temasek subsidiary invests $3mn in Everonn
Chennai: India China pre IPO Equity Ltd, a subsidiary of the Singapore-based Temasek Holdings Pvt Ltd, has invested about Rs 13.5 crore ($3 million) in Everonn Systems.Temasek Holdings Pvt Ltd is managed by ST Asset Management and provides foreign funding to growing companies in Asia.

Everonn Systems is a fully integrated knowledge management, education and learning solutions company.

This investment will partly fund Everonn's expansion plans and projects on hand. Everonn is dependent largely on government tenders for business in the education sector. It has bagged a five-year contract for setting up IT infrastructure and training facilities in 555 Government schools in West Bengal to be implemented through a build-own-operate-transfer (BOOT) model. The company has 2,500 employees and operates in 14 States in India.
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