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Cyber Pearl Information Technology Park informs about Updates on Scheme of Amalgamation

20 Jul 2015 Evaluate

Cyber Pearl Information Technology Park has informed that the Board of Directors of Cyber Pearl Information Technology Park (Cyber Pearl or Company) had, in their meeting held on April 09, 2015, approved the Scheme of Amalgamation (Scheme) for merger of Ascendas IT SEZ (Chennai) (AISPL), wholly owned subsidiary of Cyber Pearl, into the Company, in accordance with the provisions of sections 391 to section 394 of the Companies Act, 1956. In this connection, the Company informs that the Honorable High Court of Judicature of Madras has approved/ sanctioned the Scheme of Amalgamation of Ascendas IT SEZ (Chennai) with the Company in the final hearing held on June 30, 2015 and the High Court order was received on July 13, 2015. As intimated earlier (letter dated April 22, 2015), the Company reiterate that there would be no change in the terms of issue of the listed Non-Convertible Debentures (NCDs) issued by the Company (including payment of interest and redemption), pursuant to the merger of wholly owned subsidiary into the Company. Further, the merger does not adversely affect the rights and obligations of the holders of NCDs.

The above information is a part of company’s filings submitted to BSE.

 

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