Corporate News 23-Apr-16
Outcome of board meeting of International Paper APPM
Held on 22 April 2016
International Paper APPM announced that the Board of Directors of the Company at its meeting held on 22 April 2016, approved a Scheme of Arrangement amongst the Company and the Members of the Company pursuant to the provisions of Sections 391 to 394 of Companies Act, 1956 which envisages transfer of entire amount of Rs. 288.76 crore lying in the General Reserve as of 31 March 2016 to Profit & Loss Account of the Company subject to the consent by the Members, Stock Exchanges, Hon'ble High Court of Andhra Pradesh and Telangana or National Company Law Tribunal and other statutory Authorities.
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