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| Exchange Disseminated Time | Banaras Beads Ltd has informed BSE that pursuant to the order dated May 10, 2006, passed by Hon'ble High Court, Allahabad in the Company Petition No. 29 of 1999, the Company has filed this Petition for de-merger of the Company with BBL Beads Ltd., in view of Arbitration Award given by Hon’ble Justice Shri A N Gupta.
Further the Company has informed that as per directive of Hon’ble High Court, shareholders and creditors have given their consent for de-merger of the company with BBL Beads Ltd on February 06, 1999. Thereafter due to pending of Petition 14/99 before Hon’ble Company Law Board, New Delhi, the Hon’ble High court did not decided this Petition.
Now the Hon’ble High Court has dismissed this Petition. |
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