Metrochem Industries equity shareholders & creditors to approve Scheme of Arrangement

Metrochem Industries Ltd has informed BSE that pursuant to the Order made by the Hon'ble High Court of Gujarat at Ahmedabad, separate meeting of the equity shareholders, secured creditors & unsecured creditors of the Company will be held on January 05, 2008, for the purpose of considering, and if thought fit, approving with or without modification, the arrangement embodied in Scheme of Arrangement between the Company and Baroda Textile Effects Ltd and their respective shareholders & creditors ("the Scheme").