Shree Global Tradefin gets approval for the scheme of arrangement

Shree Global Tradefin has received an approval for the scheme of arrangement between Ragini Trading and Investments, Parishram Properties, Shree Global Tradefin and Pragya Realty Developers. The company has received an approval at its board meeting held on June 06, 2011.

As per the arrangement, the company has received approval to demerge by way of transfer of demerged undertakings of Ragini Trading and Investments, Parishram Properties and Shree Global Tradefin to Pragya Realty Developers and to merge the Ragini Trading and Investments and Parishram Properties comprising remaining business of demerged companies viz. Ragini and Parishram with Shree Global Tradefin.

Further, the scheme of arrangement is subject to the approval of High Court under section 391 to 394 and section 100 of the companies Act, 1956 and subject to other necessary approvals.

Shree Global is engaged in trading activities. The company's principal activity is to manufacture and trade coils and cold rolled steel sheet. It earns its income from trading in iron and steel.