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Stock Report
Forbes Gokak equity shareholders & secured creditors to approve Scheme of Arrangement
Posted On : 2007-03-01 09:27:47( TIMEZONE : IST )
Forbes Gokak Ltd has announced that pursuant to the Order made by the Hon'ble High Court of Judicature at Bombay, a meeting of the Equity Shareholders of the Company will be held on March 20, 2007, for the purpose of considering and if thought fit, approving, with or without modification(s), the Scheme of Arrangement between the Company, Gokak Textiles Ltd and their respective Shareholders and Creditors for the demerger of Textiles Division of the Company, the Demerged Company, to Gokak Textiles Ltd, the Resulting Company.
Further the Company has informed that, pursuant to the Order made by the Hon'ble High Court of Judicature at Bombay, a meeting of the Secured Creditors of the Company will be held on March 21, 2007, for the purpose of considering and if thought fit, approving, with or without modification(s), the Scheme of Arrangement between the Company, Gokak Textiles Ltd and their respective Shareholders and Creditors for the demerger of Textiles Division of the Company, the Demerged Company, to Gokak Textiles Ltd, the Resulting Company.
