MT Newswires Live09-09 14:37
Siemens (NSE:SIEMENS, BOM:500550) said India's National Company Law Tribunal has cleared a key step in its proposed merger with wholly owned subsidiary Siemens Rail Automation.
The Mumbai bench of the tribunal waived the requirement to hold separate meetings for the equity shareholders and unsecured creditors of both companies, according to a Sept. 7 order.
The merger remains subject to other required regulatory approvals, the company said in an Indian bourse filing on Wednesday.
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