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The Hon'ble High Court of Judicature at Bombay vide its Order dated November 26, 2010 had sanctioned the Scheme of Amalgamation of Bajaj Hindusthan Sugar and Industries Limited (BHSIL) with Bajaj Hindusthan Limited (BHL). The Certified Copy of the aforesaid Order has been filed with the Registrar of Companies, Maharashtra Mumbai for registration pursuant to Section 394(3) of the Companies Act, 1956 on December 20, 2010. BHL has also filed the Certified Copy of the Order on December 20, 2010 and accordingly the Scheme has become effective on December 20, 2010 with Appointed Date being April 01, 2010. Consequently, BHSIL stands dissolved without winding-up with effect from December 20, 2010.
December 31, 2010 has been fixed as "Record Date" for the purpose of determining the shareholders of BHSIL who will be entitled to receive 1 (One) Equity Share of the BHL for every 5 (Five) Equity Shares of BHSIL in terms of the Scheme of Amalgamation of BHSIL with BHL.
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“Bajaj Hindusthan Ltd., a part of the 'Bajaj Group', is India's Number One sugar and ethanol manufacturing company. In December 2005, the company took over The Pratappur Sugar & Industries Limited in District Deoria, East U.P. This Plant, in operation since 1903, had a crushing capacity of 3,200 tcd, which was increased to 6,000 tcd in the subsequent sugar season 2006-07. There is a large culturable area around this Unit with high potential of increasing cane cultivation and scaling up capacities significantly.
The Pratappur Sugar & Industries Limited has now been renamed Bajaj Hindusthan Sugar and Industries Limited (BHSIL) and is a subsidiary of BHL. With most sugar Plants in the vicinity closed, expansion of capacities at BHSIL has benefited the local farmer community and improved the rural economy of the region. This acquisition provided BHL a strategic foothold in the sugar-deficient region of Eastern UP and reaffirmed the consolidation that took place in the sugar industry recently.
BHSIL has embarked upon significant new expansions. While the capacity of its existing sugar plant was enhanced from 3,200 tcd to 6,000 tcd, three new sugar units were also set up in virgin, cane-rich areas of East UP : a 7,000 tcd plant in Rudauli (district Basti), a 15,000 tcd plant in Kundarkhi (district Gonda), a 12,000 tcd plant in Utraula (district Balrampur). Thus, BHSIL now has a crushing capacity of 40,000 tcd and a distillery with the capacity to manufacture 160 kilo-litre per day of industrial alcohol/ ethanol. With the commissioning of three co-generation plants at Kundarkhi, Rudauli and Utraula, BHSIL has an aggregate power generation capacity of 88 M.W.
The Bajaj Hindusthan Group is proud to be associated with the farming community of Uttar Pradesh and to contribute towards the economic development of rural India.”
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BHSIL Amalgamates with BHL Dec. 20,2010
Shareholding Pattern as on 30th September 2010
Q3, 2009-10 Unaudited Financial Results
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