All the shareholder of man industries would be getting a free share of MIPL which is expected to be listed on the Stock exchange by 6th May
https://www.bseindia.com/xml-data/corpfiling/AttachLive/e92cfb9c-e767-42c3-9b65-706386a279a9.pdf
This is to inform that the sole Ld. Arbitrator, appointed by Hon'ble Bombay High Court in the long pending family settlement related disputes between the promoter groups has passed the final award. In the said award, the Ld. arbitrator has rejected the frivolous claim made by the ousted Promoter Group (JCM group, led by Mr. J.C. Mansukhani) against the company.
In view of the above Award and in pursuance of the performance of its obligations under the aforesaid Scheme of Arrangement (demerger) and in the interest of about 28,000 shareholders of holding Company (MIIL), the Board of Directors of the Company has fixed the Record Date as of 6th May'2019 for the purpose of allotment of free shares by Man Infraprojects Ltd.(MIPL), in the ratio of 1:1 to all the shareholders of MIIL whose names will be appearing in the list of shareholders as on Record Date, i.e. on 6th May'2019.
In view of MIPL having been marked as a company having 'management dispute' as per order of the ROC, Mumbai, MIIL has already approached to NCLT for appointment of administrators in MIPL to ensure smooth allotment and listing of above shares on the Stock Exchanges in a time bound manner.
We request you to please take the above on record.
This may be treated as compliance under Regulation 30 and other application regulations of the SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015.
Note: I am not a SEBI registered analyst and my views might be biased.
