Shree Global Tradefin Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 06, 2011, has considered and approved subject to the approval of Hon'ble High Court U/S 391 to 394 and section 100 of the companies Act, 1956 and subject to other necessary approvals, the Scheme of Arrangement: 1. To demerge by way of transfer of demerged undertakings of Ragini Trading and Investments Ltd, Parishram Properties Private Ltd and Shree Global Tradefin Ltd to Pragya Realty Developers Private Ltd; and 2. To merge the Ragini Trading and Investments Ltd and Parishram properties Private Ltd comprising remaining business of demerged companies viz. Ragini and Parishram with Shree Global Tradefin Ltd. Shree Global Tradefin Ltd has informed BSE that the Equity Shareholders of the Company at their Court convened meeting held on December 20, 2011, approved unanimously the Scheme of arrangement between Ragini Trading & Investments Limited and Parishram Properties Private Limited and Shree Global Tradefin Limited and Pragya Realty Developers Private Limited and their respective Shareholders & Creditors u/s 391 to 394 of the Companies Act, 1956 and reduction of preference share capital. (As Per BSE Announcement Website dated on 20.12.2011) Shree Global Tradefin Ltd has informed BSE that the Hon'ble High Court, Mumbai on March 09, 2012 has approved the Scheme of Arrangement between Shree Global Tradefin Limited, Ragini Trading & Investments Limited, Parishram Properties Private Limited and Pragya Realty Developers Private Limited and their Respective Shareholders & Creditors u/s 391 to 394 of the Companies Act, 1956 for, interalia, the demerger of businesses of Ragini, Parishram and SGTL into Pragya, the Balance in Securities Premium Account of the Company be applied to write off / adjust the Goodwill of the Company as on the appointed date i.e. April 01, 2011 and the transfer of Preference Share Capital pursuant to the Scheme and the Securities Premium Amount shall stand reduced. The Company has received certified true copy of the order. The effective date for the above Scheme shall be the date of filing the High Court's Order with Registrar of Companies, Mumbai. (As Per BSE Announcement Website dated on 27.03.2012)