Surana Strips Withdrawal of Scheme for Arrangement & Compromise with Creditors

Surana Strips Ltd has announced that in vogue of the ongoing bilateral settlement with the creditors of the Company the proposed scheme under section 391-393 of the Companies Act, 1956 for Arrangement and compromise between Company and its creditors stands withdrawn with immediate effect.

The power to withdraw the scheme was inherent to the board resolution dated September 14, 2006 passed for approving the scheme.

Source : Equity Bulls

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