Hon'ble High Court of Judicature for Rajasthan at Jaipur Bench, Jaipur approve Scheme of Arrangement of Associated Stone

Associated Stone Industries Kotah Ltd has announced that the Honourable High Court of Judicature for Rajasthan at Jaipur Bench, Jaipur, has approved, vide its Orders dated December 19, 2006 and February 09, 2007, the Scheme of Arrangement between the Company and Vast Textiles Ltd, for the demerger of Textile Unit viz. Prerna Syntex (A Unit of the Company), with effect from the appointed date i.e. October 16, 2005.

Further the Company has informed that, a meeting of the Board of Directors is scheduled to be held on February 21, 2007, to take on record the above Order and to fix a record date to issue and allot Equity Shares by Vast Textiles Ltd to the members of the Company whose name are recorded in the register of members of the Company on that date, pursuant to the Scheme of Arrangement.

Source : Equity Bulls

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