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Blue Star Infotech Ltd.

BSE: 532346 Sector: IT
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NSE 05:30 | 01 Jan Blue Star Infotech Ltd

Updates on Scheme of Amalgamation

April 22, 2016, 3:28 pm | Source: BSE | Downlaod PDFDownload PDF

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

Upon the effective implementation of the scheme Blue Star Limited will issue and allot to the shareholders of the Company as on the record date to be fixed by Blue Star Limited seven (7) fully paid up equity shares of Rs. 2/- each of Blue Star Limited 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. April 01 2015 upon filing of the Certified Copy of the Order of the Hon?ble High Court sanctioning the Scheme with the Registrar of Companies.

Further upon receipt of the certified copy of the order the Company shall notify the Stock Exchanges and also upload the said order on the website of the Company.