Brief: Sakthi Sugars says scheme of demerger of ABT Ltd approved by High Court of Madras

Sakthi Sugars

20/04/2016 12:57

April 20 (Reuters) - Sakthi Sugars Ltd  SKSG.NS : 
 * Scheme of demerger of abt limited has been approved by the hon'ble high court 
of judicature at madras 
 
 * Source text[Sakthi Sugars Limited has informed the Exchange that A B T Limited, a company belonging to the Promoter Group, holding majority equity shares (i.e. 70.12%) in the Company, has informed on April 20, 2016 that a Scheme of Demerger of ABT Limited has been approved by the Hon'ble High Court of Judicature at Madras, vide its Order dated April 18, 2016, and that as per the approved Scheme of Demerger the equity shares held by A B T Limited in our Company has been vested with ABT Investments (India) Private Limited effective from the date of implementation of the Scheme. Upon the Scheme becoming effective, viz. on filing of the Order of the High Court together with the sanctioned Scheme with the Registrar of Companies, ABT Investments (India) Private Limited will hold the aforesaid equity shares of the Company as a Promoter Group company] 
 
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