20 Nov 2015 12:23
CROMPTON GREAVES LD - Regulatory ApprovalCROMPTON GREAVES LD - Regulatory Approval
PR Newswire
London, November 20
Our Ref : COSEC/121/2016 20th November, 2015
BY EMAIL & COURIER
The Corporate Relationship Department Stock Exchange, Mumbai 1st Floor, New Trading Ring Rotunda Building Phiroze Jeejeebhoy Towers Dalal Street Mumbai 400 001 Scrip Code : 500093 | The Assistant Manager – Listing National Stock Exchange of India Exchange Plaza, Bandra-Kurla Complex Bandra (East) Mumbai 400 051 Scrip Code : CROMPGREAV |
Sub: In the matter of the Scheme of Arrangement under Section 391 to 394 read with Section 78 and Sections 100 to 103 of the Companies Act, 1956 between Crompton Greaves Limited and Crompton Greaves Consumer Electricals Limited and their respective shareholders and creditors
Disclosure under Clause 36 of the Listing Agreement
Dear Sirs,
Pursuant to Clause 36 of the Listing Agreement and with reference to our letter Ref No COSAC/83/2016 dated August 14, 2015, we would like to inform you that;
The Honorable High Court of Judicature at Bombay has today, approved the Scheme of Demerger of the Consumer Products Business Unit of the Crompton Greaves Limited (CG) into CG’s wholly owned subsidiary Crompton Greaves Consumer Electricals Limited (CGCEL). This Scheme was approved by the Shareholders of the CG at the Court Convened Meeting held on August 13, 2015.
Upon the effective implementation of the Scheme, CGCEL will issue and allot to the shareholders of CG as on the record date to be fixed, one (1) fully paid up equity share of Rs 2 each for every one (1) equity share of Rs. 2/- each held in CG.
The Scheme shall be effective from the Appointed Date i.e. 1st October 2015, upon filing of the Certified Copy of the Order of the Hon’ble High Court, sanctioning the Scheme, with the Registrar of Companies. 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. Request you to take the above information on record.
Yours faithfully
for Crompton Greaves Limited
Manoj Koul
Company Secretary & Compliance Officer
ACS No 16902