Gateway Distriparks updates on scheme of amalagamation

On 02 December 2014

Gateway Distriparks announced that the petition filed by the Company's subsidiary Company, Gateway Distriparks (South) (GDSPL) to the Madras High Court, under sections 391 and 394 of the Companies Act, 1956, for sanctioning the scheme of amalgamation between GDSPL and the Company was heard on 24 November 2014.

The Madras High Court has directed GDSPL to publish notice of the petition in an issue of the Hindu Business Line (Chennai Edition) and an issue of the Malai Murasu (Chennai Edition) at least ten days before the next hearing date (being 23 December 2014) and for notice to be given to the Registrar of Companies, Tamil Nadu, the Regional Director, Ministry of Corporate Affairs, Chennai and the Official Liquidator, Madras High Court, for giving objections / support to the Scheme of Amalgamation.

The notice is proposed to be published on 03 December 2014 in the Hindu Business Line (Chennai Edition) and in the Malai Murasu (Chennai Edition).

Further the Company also informed that the Company Summons for Direction filed by the Company before the Bombay High Court in respect of the scheme of amalgamation between GDSPL and the Company was heard on 15 November 2014. The Bombay High Court has passed an order dispensing with (a) notice to shareholders of the Company; (b) creditors of the Company and (c) the filing of the Company Scheme Petition by the Company.

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