Shree Renuka Sugars Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 20, 2009, interalia, has approved the Scheme of Amalgamation for merger of wholly owned subsidiaries of the Company, viz., Godavari Biofuel Pvt. Ltd and Ratnaprabha Sugars Ltd, with Shree Renuka Sugars Ltd, pursuant to the provisions of Sections 391 to 394 of the Companies Act, 1956. The amalgamation apart from creating economies of scale and reducing duplication of administrative, managerial costs and legal & regulatory compliance will facilitate consolidation and unified control of operations. Since both these Companies are wholly owned subsidiaries of Shree Renuka Sugars Ltd, capital structure of the Company will not change post amalgamation and no shares or securities will be issued or cancelled.