High Court approves Spice Communications Idea Cellular merger
Idea Cellular, one of Leading Telcom services provider today said the high courts of Gujarat and Delhi have approved merger of Spice Communications with the company. The two high courts sanctioned the scheme of amalgamation of Spice Communications with Idea Cellular, the Aditya Birla Group firm said in a filing with the Bombay Stock Exchange.
The high courts sanctioned the scheme under sections 391 to 394 of the Companies Act, it said. In another disclosure, the company said the high courts of Bombay and Gujarat have also sanctioned the scheme of arrangement between Idea Cellular and Aditya Birla Telecom contemplating de-merger of de-merged undertaking comprising Unified Access Services License of Bihar and certain assets and liabilities of Aditya Birla Telecom to the company, it said. Incorporated in 1995, Idea Cellular is one of the leading GSM operators. The Mumbai-based firm has licences to operate in all 22 circles, though it operates only in 13 circles now.
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