OCL India - Hon'ble High Court of Orissa, Cuttack approve Scheme of Arrangement

OCL India Ltd has informed BSE that the Hon'ble High Court of Orissa, Cuttack vide its order dated November 27, 2007 has approved the Scheme of Arrangement ("Scheme") comprising:

(a) demerger of 'Steel Undertaking' of the Company into OCL Iron and Steel Ltd.

(b) demerger of 'Real Estate Undertaking' of the Company into Konark Minerals Ltd; and

(c) merger of Dalmia Cement (Meghalaya) Ltd into the Company.

Further, the Hon'ble Gauhati High Court vide its order dated October 15, 2007 has already approved the Scheme.