Bajaj Auto equity shareholders & unsecured creditors approves Scheme of Arrangement

Bajaj Auto Ltd has announced that the Scheme of Arrangement between the Company, Bajaj Holdings & Investment Ltd and Bajaj Finserv Ltd was approved on August 18, 2007 by shareholders and unsecured creditors at meetings held under directions of the Hon'ble High Court of Judicature at Bombay. The meetings were presided over by Shri. Rahul Bajaj, who was appointed as Chairman of the meetings by the Hon'ble Court.

The Company would now file the petition before the Hon'ble Court for its approval.

The stock was trading at Rs.2312, up by Rs.61 or 2.71%. The stock hit an intraday high of Rs.2350 and low of Rs.2298. The total traded quantity was 9795 compared to 2 week average of 64328.

Source : Equity Bulls

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