Held on 27 July 2015
Jagran Prakashan announced that the Board of Directors of the Company at its meeting held on 27 July 2015, inter alia, has considered the following:- Considered amalgamation of Suvi Info-Management (Indore) (SUVI), a wholly-owned subsidiary of the Company, which does not have business activity.
Proposed demerger shall be effected through a Scheme of Amalgamation (Scheme) under the provisions of Sections 391 to 394 and other applicable provisions of the Companies Act, 1956 or any amendment or modifications made thereto.
The Scheme is approved by the Board subject to the requisite approval of the members and/ or creditors of the Company as may be directed by the jurisdictional High Court(s) and subject to all such requisite approvals from the relevant regulatory authorities and sanction of the jurisdictional High Court(s).
The salient features of the Scheme are as follows:
1. The Appointed Date of the Scheme will be 01 January 2016.
2. No issue of fresh capital or any other security as SUVI is 100% subsidiary of the Company.
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