Blue Star Infotech gets High Court approval for scheme of amalgamation

On 16 April 2016

Blue Star Infotech announced that the Company has received the order sanctioned by the Honourable High Court of Judicature at Bombay dated 16 April 2016, sanctioning the Composite Scheme of Amalgamation of the Company and its wholly owned Indian subsidiary Blue Star Infotech Business Intelligence and Analytics with Blue Star and their respective shareholders and creditors.

Upon the effective implementation of the scheme, Blue Star will issue and allot to the shareholders of the Company, as on the record date to be fixed by Blue Star, seven (7) fully paid up equity shares of Rs. 2/- each of Blue Star for every ten (10) equity shares of Rs. 10/- each held in the Company.

The Scheme shall be effective from the Appointed Date i.e. 01 April 2015, upon filing of the Certified Copy of the Order of the Hon'ble High Court, sanctioning the Scheme, with the Registrar of Companies.

Powered by Capital Market - Live News