Star Ferro & Cement Ltd Merged Company Summary

Star Ferro & Cement Ltd Merged Summary

Star Ferro and Cement Limited was incorporated on 10th March, 2011 with object to engage in the business of manufacturing ferro alloys at EPIP, Byrnihat, Meghalaya. The Company also had a captive power plant of 13.8 MW in Meghalaya.Pursuant to the Scheme of Arrangement entered between the Company, Shyam Century Ferrous Limited and their respective shareholders, duly approved by the Honble High Court of Meghalaya at Shillong vide its order dated 31st March, 2015, the business of Ferro Alloy unit of the Company along with captive power plant has been demerged and all the assets and liabilities of the Ferro alloy business including the captive power plant attached thereto as also the investment in equity of Meghalaya Power Limited have been transferred to and vested in Shyam Century Ferrous Limited with effect from 1st April, 2014 being the Appointed date of demerger.Post demerger of ferro alloy business, the business of the Company mainly derives from cement business of its subsidiaries. Direct subsidiary M/s. Cement Manufacturing Company Limited along with its subsidiaries M/s. Megha Technical & Engineers Private Limited and Star Cement Meghalaya Limited engaged in cement business. M/s. Meghalaya Power Limited a fellow subsidiary is having a Thermal Power Plant at Lumshnong in Meghalaya.