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McLeod Russel Board clears amalgamation

KOLKATA: The board of directors of McLeod Russel India on Wednesday okayed the scheme of amalgamation of The Moran Tea Company (India) with itself from April 1, 2007. Following the amalgamation, which is subject to various approvals, four new equity shares of the company will be issued for every one equity share of Rs. 10 each held by the shareholders of Moran Tea. — Our Special Correspondent

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