Mcdowell & Company Updates on Composite Scheme of Arrangement

With reference to the Composite Scheme of Arrangement between Phipson Distillery Ltd, United Spirits Ltd, Herbertsons Ltd, Triumph Distillers & Vintners Pvt Ltd, Shaw Wallace Distilleries Ltd, Baramati Grape Industries Ltd, United Distillers India Ltd, McDowell International Brands Ltd, McDowell India Spirits Ltd and the Company, Mcdowell & Company Ltd has announced that about the following:

The scheme would be effective upon filing of the Orders of the Hon’ble High Courts of Karnataka and Bombay with the Registrar of Companies.

The orders of the Hon’ble High Courts of Karnataka and Bombay have been received and filed by the concerned companies with the Registrar of Companies, Karnataka at Bangalore and the Registrar of Companies, Maharashtra, at Mumbai and Pune.

The Scheme has therefore, become effective from October 05, 2006.

Accordingly, the Demerger of the Investment Business of the Company into McDowell India Spirits Ltd takes effect from the opening hours of April 01, 2005 being the Demerger Appointed date and the amalgamation of Phipson Distillery Ltd, United Spirits Ltd, Herbertsons Ltd, Triumph Distillers & Vintners Pvt Ltd, Shaw Wallace Distilleries Ltd, Baramati Grape Industries Ltd, United Distillers India Ltd and McDowell International Brands Ltd with the Company takes effect from April 01, 2005 being the Merger Appointed Date. The transferor companies also stand dissolved without winding up.

Source : Equity Bulls

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