Sujana Metal shareholders & creditors to approve Scheme of Arrangement

Sujana Metal Products Ltd has announced that the Company made an application to the Honble High Court of Andhra Pradesh, Hyderahad seeking directions for conducting the meetings of shareholders and creditors for considering the Scheme of Arrangement between the Company and M/s. Sujana Towers Ltd and Amalgamation of M/s. Sujana Steels Ltd with the Company, the Company has further informed that, the Honble High Court of Andhra Pradesh, Hyderabad has ordered for conducting the meetings of shareholders and creditors of the Company and M/s. Sujana Steels Ltd on December 28, 2006 and the meetings of shareholders and creditors of M/s. Sujana Towers Ltd has been dispensed with since the shareholders have given individual No Objection for the demerger and there are no creditors of M/s Sujana Towers Ltd.

Source : Equity Bulls

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