Essar gets approval for merging 2 companies with itself

Indian steelmaker Essar Steel Ltd announced that it had received the Gujarat High Court´s approval for merging Hy-Grade Pellets Ltd and Steel Corporation of Gujarat Ltd with itself. The company sources reported that the Court approved the scheme of merger of the two companies with Essar Steel on June 17, 2006. The Court also approved the scheme of reconstruction of capital of the Essar Steel, sources report.