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Indian Metals & Ferro Alloys Ltd. has announced a board meeting to convene a Postal Ballot for the approval of an amalgamation scheme with its wholly owned subsidiary, Utkal Coal Limited. The scheme aims to merge Utkal Coal into Indian Metals, thereby streamlining operations and eliminating the fixed costs associated with the transferor company, which no longer fulfills its original purpose. This move is anticipated to optimize resources and enhance shareholder value. With remote e-voting scheduled from 14th November to 13th December, investor sentiment may lean positively as the company seeks to simplify its structure and reduce costs.