MUMBAI: Adlabs Films Ltd has announced that the company has, on 30 June, received the certified true copy of Order of the Mumbai High Court, approving the Scheme of Arrangement between the Company, Reliance Unicom Ltd (RUL) and their respective shareholders and creditors, for demerger of Radio Business of the Company into RUL.
The said order has been filed with the Registrar of Companies, Maharashtra – Mumbai on June 30, 2009 which is the effective date of the said Scheme.
Pursuant to the said scheme, every shareholder of the Company shall be allotted one fully paid up equity share of Rs 5/- each in Reliance Unicorn Ltd for every one equity share of Rs 5/- each, held by the shareholder in the Company, in consideration for the demerger of Radio Business.
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