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Board of Rain Commodities approves scheme of arrangement

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Capital Market
Last Updated : Jun 11 2015 | 9:01 PM IST

At meeting held on 11 June 2015

Rain Commodities announced that the Board of Directors of the Company at its meeting held on 11 June 2015, have approved the Scheme of Arrangement under Section 391 - 394 of the Companies Act, 1956 for Amalgamation of Moonglow Company Business Inc, British Virgin Islands, a step down wholly owned subsidiary with the Company.

The aforesaid Scheme of Arrangement is subject to the approval of Lenders, Shareholders, Stock Exchanges, Regulators and Hon'ble High Court of Andhra Pradesh and Telangana.

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First Published: Jun 11 2015 | 6:55 PM IST

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