Approval of Scheme of Arrangement with Modified Appointed Date

The High Court of Allahabad approved the scheme of arrangement between a transferee-company and five transferor companies, with a modification to the appointed date. Shareholders and creditors supported the scheme, with the appointed date adjusted to 1-4-2001. The scheme was deemed binding on the shareholders of the transferee-company, pending approval by the Calcutta High Court for all entities involved.

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The High Court of Allahabad sanctioned the scheme of arrangement proposed between the transferee-company and five transferor companies, subject to modification of the appointed date. Shareholders and creditors unanimously approved the scheme, with the appointed date changed to 1-4-2001. The scheme was declared binding on the shareholders of the transferee-company, Rajratan Castings (P.) Ltd., pending approval by the Calcutta High Court for all five companies involved.

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