Bongaigaon Refinery to merge with Indian Oil

March 25th, 2009 - 2:55 pm ICT by IANS  

New Delhi, March 25 (IANS) The government has approved a proposal for merging Bongaigaon Refinery and Petrochemicals into its parent company, the state-run Indian Oil Corp (IOC).
In a regulatory statement Wednesday, IOC said Bongaigaon Refinery stands dissolved and the merger becomes effective March 25 following the filing of the amalgamation order with the Registrar of Companies (ROCs) in Shillong and Mumbai.

IOC will issue four shares for every 37 Bongaigaon Refinery shares, it said in the statement.

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