Decided not to implement the Scheme of arrangement between Harrisons Malayalam Ltd.,Meteoric Industrial Finance Company Ltd., and company, and/or withdraw the Scheme subject to such approvals and/or sanctions, as may be required. Ceat Ltd has informed the Exchange regarding the Scheme of Arrangement between Harrisons Malayalam Ltd (HML), Ceat Ltd (CEAT) and Meteoric Industrial Finance Company Ltd (MIFL). In terms of the Scheme, necessary application was made to the Hon'ble High Court of Kerala by HML in May 2003 for obtaining the sanction to the Scheme. The Scheme is still awaiting the approval of the Hon'ble High Court of Kerala. Considering the fact that the Scheme had been proposed and necessary application made in early part of 2003 with the Appointed Date for the Scheme as October 01, 2002, the Boards of HML, CEAT and MIFL, in view of the delay and the changed circumstances, at their respective emergency meeting held on August 03, 2004 have resolved not to implement the scheme and/or withdraw the Scheme subject to such approvals and/ or sanctions, as may be required. (As per NSE Bulletin dated on 03/08/2004)