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| Exchange Disseminated Time | Peninsula Land Ltd has informed BSE that:
1. In accordance with the directions of the Hon'ble High Court of Judicature at Bombay in Company Summons for Directions No. 763 of 2010, the meeting of the equity shareholders was convened and held on January 05, 2011. The equity shareholders have approved the Scheme of Amalgamation and Arrangement of Topstar Mercantile Private Limited with Peninsula Land Limited and their respective shareholders and creditors (‘the Scheme’)
2. The Extra Ordinary General Meeting (EGM) of the members of the Company held on January 05, 2011, have passed the following resolution:
- Pursuant to the provisions of Sections 100 to 103 and other applicable provisions, if any, of the Companies Act, 1956, Article 64 of the Articles of Association of the Company and subject to the sanction of Scheme of Amalgamation and Arrangement between Topstar Mercantile Private Limited and Peninsula Land Limited and their respective shareholders and creditors by the Hon'ble High Court of Judicature at Bombay under Sections 391 to 394 read with Sections 100 to 103 of the Companies Act, 1956, the issued, subscribed and paid up equity share capital of Rs. 55,84,02,440 (Rupees Fifty Five Crores Eighty Four Lacs Two Thousand Four Hundred Forty) divided into 27,92,01,220 equity shares of Rs. 2 each, shall stand cancelled and reduced by Rs. 23,37,64,104 (Rupees Twenty Three Crores Thirty Seven Lacs Sixty Four Thousand One Hundred and Four) divided into 116,882,052 fully paid up equity shares of Rs. 2 each. |
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