Usha International equity shareholders & unsecured creditors to approve Scheme of Arrangement
Usha International Ltd has informed BSE that pursuant to the Order made the Hon’ble High Court of Delhi, at New Delhi, separate meeting of the Equity Shareholders & Unsecured Creditors of the Company will be held on March 26, 2008 for the purpose of considering, and if thought fit, approving, with or without modification(s), the amalgamation, arrangement and reduction of Equity Share Capital proposed to be made as embodied in the Scheme of Arrangement between the Company, The Jay Engineering Works Ltd and Shriram Fuel Injection Industries Ltd and their respective Shareholders and Creditors (”the Scheme”). The scheme envisages the reduction of the Equity Share Capital of the Transferee Company post amalgamation by ten times.
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