Allcargo Global - Updates

Thebullishtrends: Allcargo Global Logistics Ltd has informed pursuant to the Order of the Hon'ble High Court passed on December 14, 2007 and as directed therein, meetings of the Secured Creditors, Unsecured Creditors and Equity Shareholders of the Company were held on January 22, 2008, for considering and if thought fit, pass with or without modification(s) the Scheme of Arrangement between the Company and Transindia Freight Services Pvt Ltd, inter-alia, comprising of demerger of Project and Equipment Division of Transindia Freight Services Pvt Ltd in favour of the Company with effect from January 01, 2007 ("Appointed Dated").At the said meetings, the Secured Creditors, Unsecured Creditors and Equity Shareholders of the Company have approved the Scheme of Arrangement unanimously. The Scheme approved by the Creditors and Shareholders of the Company, will now be subject to further approval of the Hon'ble Bombay High Cour