|Binny Ltd has informed BSE that pursuant to an order dated February 01, 2010 the Hon`ble High Court has directed that a meeting of Equity Shareholders of the Company will be held on March 10, 2010, for the purpose of considering, and, if thought fit, approving with or without modifications, the Scheme of Arrangement proposed to be made between M/s. Binny Ltd. (Demerged Company) and M/s. S.V. Global Mill Ltd. (Resulting Company-I) and M/s. Binny Mills Ltd. (Resulting Company- II) and their respective shareholders and creditors.
With reference to the earlier announcement, Binny Ltd has informed BSE that the Hon`ble High Court of Madras vide their Order dated February 01, 2010 has fixed Court convened Extraordinary General Meeting of Shareholders on March 10, 2010 to consider and approve the Scheme of Arrangement.
(As Per BSE Announcement Dated on 20/02/2010)
Binny Ltd has informed BSE the equity shareholders of the Company at its Court Convened Meeting held on March 10, 2010, inter alia, has approved the following resolutions:
1. The following resolutions for modification were carried both in number of equity shareholders attended and voted and value of equity shares : -The following sentence be inserted at the end of Clause 5.20 of the Scheme of Arrangement "The shares allotted pursuant to the scheme shall remain frozen in the depositories system till listing / trading permission is given by the designated stock exchange" - The words "One hundred and thirty eight" be substituted in 5.7.1 (c) in place of "One thousand and thirty eight".
2. The following resolutions was carried both in number of equity shareholders attended and voted and value of equity shares : - Subject to such approvals as may be necessary from the Hon`ble High Court of Judicature at Madras under Section 391 to 394 and other applicable provisions, if any, of the Companies Act, 1956 and such other statutory or other authorities, the Scheme of Arrangement amongst M/s. Binny Ltd (Demerged Company) and M/s. S V Global Mill Ltd (Resulting Company-1) and M/s. Binny Mills Ltd (Resulting Company II) and their respective shareholders and creditors as amended by the shareholders (a copy of which is placed before the meeting and for the purpose of identification initialed by the Chairman of the meeting) be and is agreed and approved.
(As Per BSE Announcement Website dated on 16.03.2010)|