Jaiprakash Associates has received an approval for the Scheme of Arrangement from, High Court of Judicature at Allahabad dated October 31, 2013, the Secured and Unsecured Creditors of JCCL have in their respective meetings held on December 07, 2013, without any modification.
Further note that the High Court had in its said order dispensed with the holding of the meeting of the shareholders (both Equity and Preference) of JCCL.
Earlier, the execution of the agreement on September 11, 2013 by Jaypee Cement Corporation (JCCL), a wholly owned subsidiary of Jaiprakash Associates with UltraTech for sale of its Gujarat Cement Plant comprising an integrated 2.4 MTPA Cement Plant at Kutch and a 2.4 MTPA Cement Grinding Unit at Wanakbori, through a Scheme of Arrangement pursuant to Section 391-394 of the Companies Act, 1956.
Further note that the High Court had in its said order dispensed with the holding of the meeting of the shareholders (both Equity and Preference) of JCCL.
Earlier, the execution of the agreement on September 11, 2013 by Jaypee Cement Corporation (JCCL), a wholly owned subsidiary of Jaiprakash Associates with UltraTech for sale of its Gujarat Cement Plant comprising an integrated 2.4 MTPA Cement Plant at Kutch and a 2.4 MTPA Cement Grinding Unit at Wanakbori, through a Scheme of Arrangement pursuant to Section 391-394 of the Companies Act, 1956.
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