Hon’ble High Court, Bombay sanctions Scheme of Amalgamation of VIP Industries

VIP Industries Ltd has announced that:

1. The final hearing in respect of the Company Petition filed by the Company for seeking sanction of the Scheme on Amalgamation and Arrangement between Blow Plast Ltd and the Company was held on January 12, 2007. At the said hearing the Hon’ble High Court of Judicature of Bombay at Mumbai has sanctioned the Scheme of Amalgamation and Arrangement between Blow Plast Ltd and the Company pursuant to which, inter-alia, the Blow Plast Ltd would be amalgamated with the Company.

2. Under the Scheme one equity share of the Company would be issued and allotted against every one equity share held in Blow Plast Ltd. No equity shares will be issued in respect of the equity shares held by Blow Plast Ltd in the Company as the same shall stand cancelled pursuant to the Scheme.

3. The Appointed Date under the Scheme is April 01, 2006.

4. The further procedural requirements in this regard would be completed in due course.

Source : Equity Bulls

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