Hon'ble High Court, Bombay approves Scheme of Amalgamation of Indian Hotels, fixes record date

Indian Hotels Company Ltd has announced that Hon'ble High Court of Bombay has approved the Scheme of Amalgamation on March 09, 2007. The scheme inter alia, provided for amalgamation of "Indian Resort Hotels Ltd", "Gateway Hotels and Getaway Resorts Ltd", "Asia Pacific Hotels Ltd", "Taj Lands End Ltd", "Kuteeram Resorts Pvt Ltd" with the Company.

April 25, 2007 has been fixed as the Record Date for determining the shareholders of Indian Resort Hotels Ltd who shall be entitled to the equity shares of Indian Hotels Company Ltd as per the Scheme of Amalgamation between Indian Hotels Company Ltd and Indian Resort Hotels Ltd.

Further the Company has informed that, member of "Indian Resort Hotels Ltd" holding 7 shares of face value of Rs 10/- each on the "Record Date" will be allotted 20 shares of face value of Re 1/- each of "The Indian Hotels Company Ltd".

Source : Equity Bulls

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