Bhagyanagar India provides update on scheme of arrangement

Receives Certified Copy of High Court order sanctioning the scheme

Bhagyanagar India announced that the Hon'ble High Court of Hyderabad for the State of Telangana and for the State of Andhra Pradesh, vide their Order dated 21 November 2016, Certified Copy of which dated December 28, 2016 was received by the Company today i.e. 30 December 2016, has approved the Scheme of Arrangement between Bhagyanagar India (Demerged Company) and Surana Telecom and Power (1st Resulting Company) and Bhagyanagar Properties (2nd Resulting Company) and their respective Shareholders and Creditors.

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