Mumbai, May 12: Essar Oil Ltd said today that a majority of investors of 14 per cent secured redeemable debentures have given their nod to a revised repayment scheme while meeting of those holding more than 2,000 debentures was adjourned to June 14, 2003. The scheme of arrangement/compromise was passed on May six with requisite majority, in number and value of votes, by the debenture holders and debenture interest holders, the Essar group company informed the Bombay Stock Exchange today.
Following, the Gujarat High Court directive, the meeting was held on may six to consider scheme under the companies act, it said.
However, the meeting of those holding more than 2,000 debentures (of Rs 105 each) was adjourned to June 14, it added.
Bureau Report