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INOX Leisure
BSE: 532706NSE: INOXLEISURISIN: INE312H01016

16th-Apr-2015 17:25Source: BSE

INOX Leisure - Updates on Scheme of Amalgamation

INOX Leisure Ltd has informed BSE that the Hon''ble High Court of Delhi had passed an Order approving the First Motion Company Application filed by Satyam Cineplexes Limited (Company''s wholly-owned subsidiary), a certified true copy of which has been received on April 13, 2015 ("Order"). By this Order, the Hon''ble Delhi High Court has:

1. Dispensed the requirement of convening the meeting of Equity Shareholders of Satyam Cineplexes Limited to consider and, if thought fit to, approve the Scheme;

2. Dispensed the requirement of convening the meeting of Unsecured Creditors of Satyam Cineplexes Limited to consider and, if thought fit to, approve the Scheme;

3. Noted that as on December 30, 2014, Satyam Cineplexes Limited had no Secured Creditors;

4. Given dispensation to Inox Leisure Limited from approaching High Court of Gujarat under Section 391(2) of the Companies Act, 1956 for sanction of the Scheme.

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