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Adani Enter - Amalgamation of Promoter entities of M/s. Mundra Port & Special

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Economic Zone Ltd wit
Category  :  Corporate News
Date  :  Aug-23-2010 09:58

Adani Enterprises Ltd has informed that the Scheme of Amalgamation of certain promoter entities of M/s. Mundra Port & Special Economic Zone Ltd (MPSEZ) i.e Adani Infrastructure Services Private Ltd, Advance Tradex Private Ltd, Adani Tradelinks Private Ltd, Pride Trade and Investment Private Ltd, Mauritius, Trident Trade and Investment Private Ltd, Mauritius, Radiant Trade and Investment Private Ltd, Mauritius, and Ventura Trade and Investment Private Ltd, Mauritius (Transferor Companies) with the Company i.e Adani Enterprises Ltd has been sanctioned by the Honble High Court of Gujarat vide its order dated August 12, 2010. The certified copy of the said order has been received on August 18, 2010 and the same has been filed with the Registrar of Companies, Gujarat on the same day. As a result, the said scheme of amalgamation has become effective from the appointed date (i.e. April 01, 2010 in case of all transferor companies other than Advance Tradex and April 20, 2010 in case of Advance tradex). Since the scheme of Amalgamation has become effective, M/s MPSEZ has become a subsidiary of the Company with 77.49% shareholding by the Company. Further, the Company has inform that on August 13, 2010 the Board of Directors of the Company has approved the Unaudited Financial Results of the Company for the quarter ended on June 30, 2010. In order to reflect the present scenario - post Amalgamation and MPSEZ becoming subsidiary of the Company, the Directors of the Company, vide Circular Resolution dated August 18, 2010 approved the Adjusted Unaudited Financial Results of the Company for the quarter ended on June 30, 2010 after taking into account the effect of Amalgamation - especially the Financial Results of MPSEZ for the Quarter ended on June 30, 2010 with that of the Company. In order to provide updated information about the financials of the Company, the Company submit the Financial Results of the Company for the Quarter ended on June 30, 2010 after taking into account the effect of Scheme of Amalgamation..

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