Tata Chemicals Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 08, 2013 approved the Scheme of Amalgamation ('the Scheme') of Homefield International Pvt. Ltd (HIPL), (Mauritius) with the Company. HIPL is a wholly owned subsidiaryof the Company with its registered office in Mauritius. The Appointed Date of the Scheme is April 01, 2013.
Upon the Scheme coming into effect and in terms of the Scheme of amalgamation, all assets and liabilities of HIPL shall, under the provisions of Sections 391 to 394 of the Companies Act 1956 and pursuant to the Order of the High Court sanctioning the Scheme and upon compliance with the process specified in the Scheme, will be transferred to and vested in the Company and all shares of HIPL stand cancelled. No shares of the Company will be issued and allotted in lieu or exchange of the Equity Shares of HIPL.
The Scheme is subject to and conditional upon requisite approvals and sanctions being received thereof, including approvals and orders under Sections 391 and 394 of the Companies Act, 1956, as may be required in India and such regulatory approvals as may be requred under Mauritius Companies Act.
Tata Chemicals Ltd has informed BSE regarding 'Scheme of Amalgamation of Homefield International Pvt. Ltd., (Mauritius) with the Company'.
(As Per BSE Announcement Dated on 29.04.2014) | Powered by Capital Market - Live News |
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