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Stock Report
Forbes Gokak equity shareholders & secured creditors approve Scheme of Arrangement
Posted On : 2007-03-23 08:55:45( TIMEZONE : IST )
Forbes Gokak Ltd has announced that the equity shareholders of the Company at its Court Convened Meeting held on March 20, 2007, have approved 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, the secured creditors of the Company at its Court Convened Meeting held on March 21, 2007, have approved 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.
