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      Jindal Saw gets High Court approval

      MoM Team / Mumbai, Aug 09, 2016 11:11 AM IST

        Jindal Saw gets High Court approval

        Jindal Saw announced that the Hon'ble High Court of Judicature at Allahabad has approved the Composite Scheme of Arrangement among Jindal Saw, JITF Infralogistics, JITF Shipyards and JITF Waterways and their respective shareholders and creditors (the "Scheme of Arrangement") vide their Order dated 08 July 2016 (certified true copy received on 02 August 2016 received by the Company on 04 August 2016 through counsel).

        The certified copy of the above order has been filed with the Registrar of Companies, Uttar Pradesh on August 05, 2016 under the provision of section 394(3) of the Companies Act, 1956. Accordingly, the Board would consider to fix Record Date in its forthcoming

        Board Meeting to be held on August 12, 2016 as per SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015 for ascertaining the names of shareholders to whom the shares of JITF Infralogistics Limited would be allotted to the shareholders of the Company as per the above Scheme.

        Meanwhile, the stock prices are up 1.5 percent at Rs 52 on the BSE.

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      Source: Capital Market


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