Sail-BRL merger approved

The government on Thursday approved the merger of Bharat Refractories Limited BRL with steel giant Steel Authority of India Limited Sail and waived BRL8217;s non-plan loan of Rs 145 crore to facilitate the move which will create a greater synergy between the companies. 8220;The Union Cabinet gave its approval for merger of BRL with Sail under Section 396 of the Companies Act,8221; Information and Broadcasting minister P R Dasmunsi said after the Cabinet meeting on Thursday.