Indiabulls Real Estate Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 08, 2011, fixed April 25, 2011, as the Record Date for ascertaining the list of Shareholders of Indiabulls Real Estate Ltd. (the 'Company' or 'IBREL") who would be entitled to be allotted shares in Indiabulls Wholesale Services Ltd. (the 'Resulting Company' or 'IBWSL') in terms of the Scheme of Arrangement for the demerger of the wholesale trading business of the Company to IBWSL, approved by the Hon'ble High Court of Delhi, New Delhi, vide its order dated March 03, 2011 ('Scheme').
Further the Company has informed that, certified copy of the Court order received by the Company on March 28, 2011, has been duly filed with the Registrar of Companies, NCT of Delhi & Haryana on March 31, 2011. Accordingly, March 31, 2011 is the 'Effective Date' for the Scheme as aforesaid.
Through the Scheme of Arrangement the business, undertaking, activities and operations pertaining to wholesale trading business of Indiabulls Real Estate Ltd. have got demerged to and vested in Indiabulls Wholesale Services Ltd. In consideration for the demerger, IBWSL will issue and allot its 1 (One) equity share of face value Rs. 2/- (Rupees Two Only) each credited as fully paid-up for every 8 (Eight) equity shares of face value Rs. 2/- (Rupees Two Only) each fully paid up held by the members IBREL as on April 25, 2011, being the record date fixed for the purpose.Read More
Sensex
|
Sunday, April 10, 2011
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment