Thursday, February 28, 2008

Bajaj Auto Demerger dates

Source: NSE - Bajaj Auto Ltd had informed the Exchange that the Hon'ble High Court of Judicature at Bombay, vide order dated December 18, 2007 received by the Company on February 19, 2008 has sanctioned the Scheme of Arrangement of Demerger between Bajaj Auto Limited (BAL), Bajaj Holdings & Investment Ltd.(BHIL) and Bajaj Finserv Ltd. (BFS) and their respective shareholders and creditors. The Company has now informed the Exchange that the certified copy of the Court order has been duly filed with the Registrar of Companies, Maharashtra, Pune on February 20, 2008. Accordingly, February 20, 2008, is the 'Effective Date' for the Scheme of Arrangement as aforesaid. Further, upon the Scheme becoming effective, Bajaj Holdings & Investment Ltd. has been re-named as Bajaj Auto Ltd. and the demerged company i.e. Bajaj Auto Ltd. has been renamed as Bajaj Holdings and Investment Ltd. Further, the Company has fixed March 25, 2008 as record date for determining the shareholders of the company who would be eligible to receive shares of Bajaj Auto Limited (new) and Bajaj Finserv Limited. A detailed note on the Scheme shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).           Date: 2008-02-21

Effective date of demerger Feb 20
Demerger record date fixed at Mar 25, ex date Mar 14


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