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| Exchange Disseminated Time | Shree Rama Multi-Tech Ltd has informed BSE about the outcome of following meetings, which were called in accordance with the direction of Gujarat High Court for the purpose of approval of a Scheme of Compromise and Arrangement between the Company and its Creditors under section 391 of the Companies Act, 1956:
1. The meeting of the Secured Creditors with First Charge or Class 'A' was duly held on March 22, 2005 and the said meeting has been adjourned to April 06, 2005, for the purpose of considering certain modifications with terms and conditions as proposed by some of the creditors of this class.
2. The meeting of the Secured Creditors with Second Charge or Class 'B' was duly held on March 22, 2005 and at the said meeting the resolution for approval of the said Scheme of Compromise and Arrangement between the Company and its Creditors was approved with the modifications, as agreed upon between the Company and the Creditors of said class.
3. The meeting of the Creditors of Class 'C' in the said matter was stayed by the Hon'ble High Court and therefore could not be held as scheduled. Further course of action in this matter will be taken as per direction of the Hon'ble Court. |
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