Intellivate Capital Ventures Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 12, 2011, has, in- principle, approved the demerger of Advisory Division, Chemical Division and Steel Division of Intellivate Capital ventures Ltd (the Demerged Company) into Intellivate Capital Advisors Ltd (the First Resulting Company)l, TCVL Chemicals Ltd (the Second resulting Company) and ICVL Steels Ltd (the Third Resulting Company) respectively with effect from appointed date i.e. April 01, 2011, subject to the requisite approvals including Shareholders, Creditors, Stock Exchanges, the Hon'ble High Court of Bombay and other authorities, as may be required for the purpose. Intellivate Capital Ventures Ltd has informed BSE that pursuant to the directions of the High Court of Judicature at Bombay a meeting of the Equity Shareholders of the Company was held on October 13, 2011 for considering and approving arrangement embodied in the Scheme of Arrangement between Intellivate Capital Ventures Ltd, the Demerged Company and Intellivate Capital Advisors Ltd, the First Resulting Company and ICVL Chemicals Ltd, the Second Resulting Company and ICVL Steels Ltd, the Third Resulting and their respective shareholders. At the said meeting a poll was conducted for considering and approving the resolutions mentioned in the notice convening the meeting. Further the Company has informed that, at the above-said meeting the said scheme has been approved with an overwhelming majority in number and value (100%) and accordingly both the resolutions stand approved. (As Per BSE Announcement Website dated on 13.10.2011) Intellivate Capital Ventures Ltd has informed BSE that the High Court of Judicature at Bombay on December 16, 2011 have approved the Scheme of Arrangement between Intellivate Capital Ventures Limited, the Demerged Company and Intellivate Capital Advisors Limited, the First Resulting Company and ICVL Chemicals Limited, the Second Resulting Company and ICVL Steels Limited, the Third Resulting and their respective shareholders. (As Per BSE Announcement website dated on 19.12.2011) Intellivate Capital Ventures Ltd has informed BSE that the Company has fixed February 24, 2012 as the Record Date for ascertaining the eligibility of the members to receive the equity shares of Intellivate Capital Advisor Limited, the first Resulting Company and ICVL Chemicals Limited, the second Resulting Company and ICVL Steels Limited, the Third Resulting Company, pursuant to Scheme of Demerger. (As Per BSE Announcement Dated on 09.02.2012)