Polaris Financial Technology Ltd has informed BSE that the Honourable High Court of Madras, in its hearing on September 15, 2014, has sanctioned the Scheme of Arrangement ("Demerger") between Polaris Financial Technology Limited and Intellect Design Arena Limited and their respective shareholders and creditors for the demerger of Products Business Undertaking of the Company into a separate entity, Intellect Design Arena Limited.<br/><br/>The Company have received the High Court Order on September 24, 2014.
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