Brief: Oricon Enterprises decides to withdraw Oriental Containers from scheme of amalgamation

Oricon Enterprises

01/02/2017 11:38

Feb 1 (Reuters) - Oricon Enterprises Ltd  OREN.NS  
    * Re-considered/ evaluated decision relating to scheme of 
amalgamation and decided to withdraw Oriental Containers from 
scheme of amalgamation. 
 
Source text: [Oricon Enterprises Limited has informed the 
Exchange that the Company vide its letter dated November 28, 
2016, filed an application under Regulation 37 for obtaining 
in-principle approval of Stock Exchange on Scheme of 
Amalgamation of Oriental containers Limited (First Transferor 
Company) and Oriocn Properties Private Limited (Second 
Transferor Company) the wholly owned subsidiary Companies with 
Oricon Enterprises Limited (the Transferee Company) (OEL). The 
Company now wish to inform that due to business exigency the 
Board of Directors at their meeting held on February 1, 2017 has 
re-considered/ evaluated the earlier decision relating to Scheme 
of Amalgamation and decided to withdraw Oriental Containers 
Limited from the said Scheme of Amalgamation. The Board of 
Directors has now subject to approval of various authorities 
decided to amalgamate Oricon Properties Private Limited with 
Oricon Enterprises Limited. Hence the aforesaid Scheme filed 
with you stands to be withdrawn and deemed to be closed, further 
Company shall file in due course of time, the new scheme of 
Amalgamation of Oricon Properties Private Limited, the wholly 
owned Subsidiary Company (the transferor Company) with Oricon 
Enterprises Limited, the Holding Company, (the Transferee 
Company)] 
Further company coverage:  OREN.NS  
 
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