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The Competition Commission of India (CCI) has given its approval to the proposed amalgamation of McNally Bharat, its subsidiary McNally Sayaji Engineering and EMC Ltd with Kilburn Engineering.
McNally Bharat which is mainly into turnkey projects across diverse sectors, holds over 74 percent stake in McNally Sayaji.
According to a regulatory filing by McNally Bharat in April, EMC and Kilburn hold 28.24 percent and 1.69 percent of the paid up share capital of McNally Bharat respectively.
The fair trade regulator Competition Commission of India has approved the proposed merger of the entities as per its website.
