Century Plyboards prepares accounts for 2005-2006 without Shyam Century Ferrous Ltd

Century Plyboards India Ltd has announced that the Board of Directors of the Company at its meeting held on December 04, 2006, has taken the following decisions:

1. The meeting discussed the progress of Scheme of Amalgamation whereby Shyam Century Ferrous Ltd is to amalgamate with the Company with effect from April 01, 2005. The Scheme of Amalgamation had been approved by the shareholders of both the Companies and also by the Hon’ble High Courts at Calcutta and Gauhati. However, as the Company has not received the certified copies of the orders from the Hon’ble High Courts, the effect of the Scheme could not be given in the Accounts for the financial year 2005-06 and the Accounts for the Financial year ended March 31, 2008 have been prepared without giving effect of the Scheme of Amalgamation.

2. To hold the next Annual General Meeting of the Company on December 30, 2006.

Source : Equity Bulls

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