Core Healthcare Updates on company's petition

Core Healthcare Ltd has announced that with reference to the Company Petition No 10 of 2006 with Company Petition No 9 of 2006, under which a composite scheme of arrangement in the nature of compromise with Class "A" and Class "B" lenders of demerged undertaking as defined in the scheme and arrangement in the nature of reconstruction of the Company, the de-merged Company with its shareholders, reorganization of Capital of Nirma Ltd, the resulting Company and its shareholders was proposed.

The Honourable High Court of Gujarat vide its oral order dated March 01, 2007 has while sanctioning the scheme disposing of the above petitions with following directions.

i. the modified composite Scheme of Arrangement referred to in paragraph 15 of the petition, which shall be an integral part of the order, stands sanctioned and it would be binding on all the equity shareholders, Class "A" and Class "B" lenders of the Company, the petitioner - Company and on the petitioner - Company.

ii. Within 30 days from the sealing of the order, the petitioner Company shall serve a certified copy of the order sanctioning the Scheme of Arrangement with Registrar of Companies (Gujarat), Ahmedabad for registration and upon such certified copy of the order being so delivered, the Registrar of Companies (Gujarat), Ahmedabad shall consolidate all relevant files, documents, records, relating to the de-merged maintained by him with the files, documents records of the resulting Company.

Source : Equity Bulls

Keywords