KALSTEELS

Kalyani Steels Ltd has informed the Exchange that "The Hon'ble High Court of Judicature at Bombay, has passed an Order today i.e. on 12th March, 2010 approving : (1) the Scheme of Arrangement between Kalyani Steels Limited ('Demerged Company') and Chakrapani Investments & Trades Limited and Surajmukhi Investment & Finance Limited and Gladiolla Investments Limited ('Amalgamating Companies') and Kalyani Investment Company Limited ('Transferee / Resulting Company') and their respective shareholders. (2) the reduction of Equity Share Capital of Kalyani Steels Limited".

Kalyani Steels Ltd has informed the Exchange that "Petition presented by the Company on 22nd January, 2010, under Section 394 of the Companies Act, 1956, for sanctioning the Scheme of Arrangement between Kalyani Steels Limited and Chakrapani Investments & Trades Limited and Surajmukhi Investment & Finance Limited and Gladiolla Investments Limited and Kalyani Investment Company Limited and their respective Shareholders ('Scheme'), was admitted by the Hon'ble High Court of Judicature at Bombay on 29th day January 2010 and that the said Petition is fixed for hearing before the Judge taking Compan

Kalyani Steels Ltd has informed the Exchange that "Meeting of Equity shareholders of the Company convened as per the directions of Hon'ble Hight Court of Judicature at Bombay to consider and approve the Scheme of Arrangement was held today i.e. on January 20, 2010. At the said meeting the requisite quorum was present and the resolutions proposed at Item Nos. 1 to 2 of the Notice dated December 19, 2009 were approved by the requisite majority."

Kalyani Steels Ltd has informed the Exchange that by an Order made on December 18, 2009, the High Court of Judicature at Bombay has directed that a meeting of the Equity Shareholders of the Company be convened and held on January 20, 2010, among other things, for the purpose of considering and, if thought fit, approving with or without modification(s), the Scheme of Arrangement between Kalyani Steels Limited and Chakrapani Investments & Trades Limited and Surajmukhi Investment & Finance Limited and Gladiolla Investments Limited and Kalyani Investment Company Limited and their respective shareh

Kalyani Steels Ltd has informed the Exchange that "The Board of Directors of Kalyani Steels Limited at their meeting held on November 03, 2009, have considered and approved the Composite Scheme of Arrangement under Sections 391 to 394 read with Sections 100 to 103 and other relevant provisions of the Companies Act, 1956, for demerger of the 'Investment Division' of Kalyani Steels Limited ('Demerged Company') into Kalyani Investment Company Limited ('Resulting Company'), and amalgamation of Chakrapani Investments & Trades Limited ("Chakrapani") and Surajmukhi Investment & Finance Limited ("Su