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Our Bureau

Hyderabad, May 5

The High Court of Andhra Pradesh has sanctioned the Scheme of Arrangement between Bharat Sugar Mills Ltd and GMR Ferro Alloys & Industries Ltd subject to an amendment, GMR informed the Bombay Stock Exchange on Saturday.

The amendment to the scheme is to incorporate the terms of redemption of preference shares that are to be issued and allotted to the preference shareholders of the company by GMR Ferro Alloys & Industries Ltd.

The court has approved the scheme with the modification that the preference shares shall be redeemed by the companies within the maximum period of 20 years as indicated in the Companies Act, 1956.

More Stories on : Preferential Allotments | Sugar | Metals

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HC sanctions GMR scheme

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