The High Court of Chhattisgarh and Bilaspur have sanctioned the scheme of amalgamation of Hira Industries (HIL) and R.R.Ispat (RRIL) with Godawari Power and Ispat (GPIL). The order was passed dated March 17, 2011 and the company has received the certified copy on March 19, 2011.
Pursuant to the said Scheme of Amalgamation GPIL shall issue 36,86,440 equity shares of Rs 10 each fully paid to the equity shareholder of HIL. The shares of RRIL shall be cancelled since the entire share capital of RRIL is been held by GPIL. Further as per the scheme of amalgamation 11,25,000 equity shares of GPIL held by the RRIL shall be transferred to GPIL beneficiary trust.
The said Scheme of amalgamation shall come into effect after filing of the certified copy of the said order with Registrar of Companies within 14 days from the date of receipt of copy of the order.
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