With a 94.11 per cent holding in the company's Rs 10.8 crore equity, Tektronix Inc of the US and Tektronix Engineering Development (India) Ltd, a subsidiary of Tektronix Inc, the motion is expected to sail through the AGM scheduled for October 14.

The company has already obtained the necessary approval for delisting from the stock exchanges at Bangalore and Ahmedabad, subject to the shareholders' approval.

Earlier, TEDIL had made two open offers at Rs 40 to TIL's shareholders and former's holdings in the company went up to 62.38 per cent.

In May again, TIL had made an preferential offer of 72 lakh equity shares to TEDIL at apremium of Rs 30. Following this allotment, the subscribed capital of TIL increased to Rs 10.8 crore from Rs 3.6 crore.

Consequent to this preferential allotment, the combined shareholding of the promoters increased to 94.11 per cent with Tektronix of US holding 20.79 per cent and TEDI controlling 73.32 per cent and the public holding the remaining portion of 6 per cent.

TIL is listed on the Bombay, Ahmedabad and Bangalore stock exchanges.

Currently the TIL scrip is trading at Rs 42 level on the Bombay Stock Exchange (BSE). However, the scrip is thinly traded on the other two bourses. During July, on expectations of an open offer, the scrip had appreciated substantially to Rs 49 from Rs 37 with average daily volume increasing to around 1500 shares from the earlier level of 100-200 shares.

During fiscal 1998, TIL's total income went up to Rs 57.35 crore from Rs 40.75 crore, reported during the previous 14 month period. However, the net profit failed to appreciate sharply due to a spurt inexpenses.

TIL is engaged in manufacture, distribution and provision of the entire range portfolio of Tektronix range of measurement, colour printing and video networking products.