Cairn India Limited has informed the Exchange that pursuant to Section 192A of the Companies Act, 1956 read with the Companies (Passing of the Resolution by Postal Ballot) Rules 2001, approval of shareholders of the Company is sought for utilization of the Securities Premium Account, not exceeding Rs.15,000 cores, of the Company to adjust the goodwill arising pursuant to the Scheme of Arrangement between Cairn Energy India Pty Limited, Cairn Energy India West B.V., Cairn Energy Cambay B.V., Cairn Energy Gujarat B.V. and Cairn India Limited and their respective shareholders and creditors ('the Scheme'). Further the Company has informed the Exchange that by an Order made on January 08, 2010 in the Cairn India Limited, Summons for Direction, the Humble High Court of Judicature at Bombay has directed that a meeting of the Equity Shareholders of Cairn India Limited, the Applicant Company, be convened and held on February 18, 2010 for the purpose of considering and, if thought fit, approving with or without modification(s), the proposed arrangement embodied in the Scheme of Arrangement between Cairn Energy India Pty Limited ("CEIPL"), Cairn Energy India West B.V. ("CE India West"), Cairn Energy Cambay B.V. ("CE Cambay"). Cairn Energy Gujarat B.V. ("CE Gujarat") and Cairn India Limited ("CIL") and their respective shareholders and creditors. A copy of the Postal ballot notice and Notice of the Court Convened Shareholders meeting shall be available on the NSE website (http://www.nseindia.com) under: Corporate > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
Source: NSECourtesy moneycontrol.com
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