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Mahindra Ugine Steel Co.: Updates on Scheme of Amalgamation

Mahindra Ugine Steel Company Ltd has informed BSE that a petition was filed before the Honble High Court of Judicature at Bombay for sanctioning the Scheme of Amalgamation of Mahindra Hinoday Industries Limited, Mahindra Ugine Steel Company Limited (the Company), Mahindra Gears International Limited, Mahindra Investments (India) Private Limited and Participaciones Internacionales Autometal Tres, S.L. with Mahindra CIE Automotive Limited (formerly known as Mahindra Forgings Limited) in terms of Sections 391 and 394 of the Companies Act, 1956. The petition was admitted by the Honble High Court on August 01, 2014 and the aforesaid petition is fixed for hearing on September 19, 2014.

In this regard, pursuant to order dated August 01, 2014 of Honble High Court, the Company has dispatched the notices of hearing of the petition to its Secured Creditors and the Unsecured Creditors and also published the said notices in newspapers dated August 13, 2014.