Receives order of Delhi High Court on 13 April 2015
INOX Leisure announced that the Hon'ble High Court of Delhi had passed an Order approving the First Motion Company Application filed by Satyam Cineplexes (Company's wholly-owned subsidiary), a certified true copy of which has been received on 13 April 2015 ("Order"). By this Order, the Hon'ble Delhi High Court has:1. Dispensed the requirement of convening the meeting of Equity Shareholders of Satyam Cineplexes to consider and, if thought fit to, approve the Scheme;
2. Dispensed the requirement of convening the meeting of Unsecured Creditors of Satyam Cineplexes to consider and, if thought fit to, approve the Scheme;
3. Noted that as on 30 December 2014, Satyam Cineplexes had no Secured Creditors;
4. Given dispensation to Inox Leisure from approaching High Court of Gujarat under Section 391(2) of the Companies Act, 1956 for sanction of the Scheme.
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