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Corporate News
22-Apr-16
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Sakthi Finance provides update on promoter group company
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ABT gets High Court approval for scheme of demerger
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Sakthi Finance announced that A B T, a Company belonging to the Promoter Group, holding 87,27,400 (17.45%) equity shares in the Company, has informed on 22 April 2016 by its letter dated 21 April 2016 that a Scheme of Demerger of ABT has been approved by the Hon'ble High Court of Judicature at Madras, vide its Order dated 18 April 2016 and that as per the approved Scheme of Demerger, the equity shares held by A B T in the Company stands vested with ABT Investments (India) effective from the date of implementation of the Scheme,
Upon the Scheme becoming effective, viz. on filing of the Order of the High Court together with the sanctioned Scheme with the Registrar of Companies, ABT Investments (India) will henceforth hold the aforesaid equity shares of the Company as a Promoter Group Company.
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