Bombay High Court approves extension of GE Shipping Demerger

Great Eastern Shipping Company Ltd (GE Shipping) has announced that the Hon´ble Bombay High Court after considering the Company´s request for extension of time for completing the balance Demerger process has approved extension of the Scheme of Arrangement (Demerger) by a period of 3 months.

Further the Company has informed that, the Hon´ble Bombay High Court has also approved the other modification to the Scheme viz.:

Consequent to the decision of the Board to have identical promoters, clauses 24 and 32 in the Scheme relating to inter-se transfer of shares amongst promoters have been deleted.

Source : Equity Bulls

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