The Board approved, in-principle, a proposal to merge EDS India Pvt Ltd (a wholly owned subsidiary of EDS) with the Company. Bfl Limited has informed the Exchange that the Board of Directors of the Company has passed a resolution by circulation by which the proposal to amalgamate the entire business and undertaking of EDS Electronic Data Systems (India) Pvt Ltd ("EDS India") into the Company in terms of a scheme of amalgamation under section 391-394 of the Companies Act 1956 was considered and approved. The proposed scheme of amalgamation provides that upon its sanction, the merger will take effect from the appointed date i.e. April 01, 2006 ("The Appointed Date"). All assets, liabilities and obligations of EDS India as per the scheme of amalgamation will vest in the Company with effect from the appointed Date. The draft scheme of amalgamation was also approved by the Board of Directors by circular resolution, and certain officers of the Company have been authorized to finalise and settle the draft of the scheme as well as all other documents to be filed in connection therewith. The Board of Directors of the Company also approved the share entitlement ratio of 5 equity share(s) in the Company of the face value of Rs 10/- each credited as fully paid up for every 4 equity shares of Rs 10/- each held by members of EDS India. The share exchange ratio has been arrived at after taking into account the recommendation of M/s Deloitte Haskins & Sells (Chartered Accountants, Bangalore) who were appointed as the valuers for the purpose by the Board on June 27, 2006. All the above are subject to requisite approvals including those of Stock Exchanges, shareholders, creditors, any regulatory authorities and sanction of the scheme of amalgamation in terms thereof by the High Court of Judicature at Bombay and the High Court of Karnataka. (As Per NSE Buletin Dated on 26/07/2006) Mphasis BFL Ltd has announced the appointment of Deepak Patel as its Chief Operating Officer (COO). Speaking on the appointment, Jerry Rao, CEO, of the Company said, "We are extremely happy to have Deepak Patel head our Operations. He brings with him valuable experience across diverse positions and will play a key role in leading Mphasis post the recent merger of EDS _ India and Mphasis." Deepak has played a key role in the merger process and will be instrumental in ensuring that the combined operations of both entities along with close to 15,000 professionals, realize their full potential that will in turn lead to an upward growth trajectory for the organization." Prior to his current role, Deepak was Vice President, Best ShoreSM Strategic Investments and Business Development at EDS in addition to other positions at EDS. He was also Principal/Senior Manager, SAP Practice at Price Waterhouse, LLP and prior to that Senior SE & Chief Technologies, Manufacturing Technology Group at EDS in addition to other positions. (As per BSE Annocement website dated on 12/09/2006) Mphasis BFL Ltd has informed BSE that equity shareholders of the Company at their Court Convened Meeting held on November 13, 2006 have approved the Scheme of Amalgamation between EDS Electronic Data Systems (India) Pvt Ltd with the Company. (As Per BSE Announcement Website Dated on 21/11/2006)