Ashok Leyland has received an approval for scheme of amalgamation of Ashley Services (100% subsidiary - transferor company) with Ashok Leyland (transferee company), subject to approval of regulatory authorities as required and the High Court of Judicature, Madras. The board of directors at its meeting held on November 19, 2013 has approved for the same.
Ashok Leyland, the Hinduja Group flagship company in India, is engaged in the manufacturing of commercial vehicles and related components. The company’s products include buses, trucks, engines, defense and special vehicles.
The company has reported a net loss of Rs 25.05 crore or the second quarter ended September 30, 2013 as compared to a net profit of Rs 142.59 crore for the same quarter in the previous year. Total income of the company has decreased by 23.05% at Rs 2572.73 crore for quarter under review as compared to Rs 3343.34 crore for the quarter ended September 30, 2012.
Ashok Leyland, the Hinduja Group flagship company in India, is engaged in the manufacturing of commercial vehicles and related components. The company’s products include buses, trucks, engines, defense and special vehicles.
The company has reported a net loss of Rs 25.05 crore or the second quarter ended September 30, 2013 as compared to a net profit of Rs 142.59 crore for the same quarter in the previous year. Total income of the company has decreased by 23.05% at Rs 2572.73 crore for quarter under review as compared to Rs 3343.34 crore for the quarter ended September 30, 2012.
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