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| Exchange Disseminated Time 10/02/2016 13:16:03 | Pudumjee Pulp & Paper Mills Ltd has informed BSE that as informed earlier the Scheme of Arrangement and Reconstruction (Demerger) between Pudumjee Pulp & Paper Mills Limited, Pudumjee Industries Limited, Pudumjee Hygiene Products Limited and Pudumjee Paper Products Limited and their respective Shareholders and Creditors ("Scheme") has been sanctioned by the Hon'ble High Court of Bombay by its order dated January 08, 2016. Consequently the erstwhile Paper manufacturing business of the Company stands vested with Pudumjee Paper Products Limited (PPPL) with effect from the Appointed Date, i.e. April 01, 2014. The sanctioned Scheme, having been filed with the Registrar of Companies, Pune has become effective from February 01, 2016.
In terms of the aforesaid Scheme PPPL will issue and allot to the Shareholders of the Company 37 Equity Share of Re.1 each fully paid for every 20 Equity Shares held in the Company on February 12, 2016, the record date fixed by the Company and the same shares shall be listed on the Stock Exchanges In due course.
The Company had published its unaudited financial results for the quarter / nine months ended December 31, 2015 excluding the results of the erstwhile paper manufacturing business of the Company . |
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