We refer to the captioned disclosure where CreditAccess Grameen Limited (the 'Company') informed you that its Board of Directors ('Board') had approved:
(i) the acquisition of up to 76.2% of the share capital of Madura Micro Finance Limited ('MMFL') by the Company from its existing shareholders; and
(ii) a scheme of arrangement amongst the Company, MMFL and their respective shareholders and creditors, providing for the amalgamation of MMFL into the Company.
The Company now wishes to inform you that on December 4, 2019, the Board approved the acquisition of an additional 13,350 equity shares of MMFL constituting 0.19% of the fully paid up equity share capital of MMFL. Pursuant thereto, the aggregate number of equity shares of MMFL that the Company proposes to acquire would be 54,92,616 equity shares constituting 76.34% of MMFL's fully diluted paid-up equity share capital.
The aforementioned acquisition is also subject to obtaining necessary regulatory and corporate approvals.
We refer to the captioned disclosures wherein CreditAccess Grameen Limited (the 'Company') informed you that its Board of Directors ('Board') had approved:
(i) the acquisition of up to 76.34% of the share capital of Madura Micro Finance Limited ('MMFL') (equivalent to 54,92,616 equity shares) by the Company from its existing shareholders;
(ii) a scheme of arrangement amongst the Company, MMFL and their respective shareholders and creditors, providing for the amalgamation of MMFL into the Company ('Amalgamation');
The Company now wishes to inform the updates pursuant to decisions taken at the Board meeting held on January 22, 2020.
(As Per BSE Announcement dated on 22/01/2020)
The Company had vide its disclosure dated February 5, 2020 informed you that the RBI Chennai has granted it's no objection to the Acquisition and to the consequent changes in the control and directors of MMFL.
The Company now wishes to inform you that the RBI Bengaluru, vide its Letter dated February 19, 2020 (received by us on February 26, 2020), has conveyed it's no objection to the Company for the proposed Amalgamation.
(As Per BSE Announcement Dated 26.02.2020)
We wish to inform you that in accordance with the Listing Regulations, BSE Limited and National Stock Exchange of India Limited have on May 7, 2021 granted their respective 'No Objection' to the Scheme of Amalgamation between Madura Micro Finance Limited ('Transferor Company'), CreditAccess Grameen Limited ('Transferee Company') and their respective Shareholders and Creditors.
(As Per BSE Announcement dated on 07.05.2021)
We wish to inform you that in connection with the Merger of Madura Micro Finance Limited ('MMFL'), the Material Subsidiary of the Company ('Transferor Company') with CreditAccess Grameen Limited ('Transferee Company'), both the entities have now filed the First Motion Petitions before the jurisdictional benches of National Company Law Tribunal at Chennai and Bengaluru, respectively.
(As Per BSE Announcement dated on 05.08.2021)
We wish to inform that the Company has today i.e., March 14, 2022, received the signed copy of the Order dated February 25, 2022, from the Hon'ble National Company Law Tribunal ('the NCLT') Bengaluru Bench, pursuant to which the Company is directed to convene a meeting of the equity shareholders of the Company on Monday, April 25, 2022, for consideration and approval of the proposed Scheme of Amalgamation of the Subsidiary Company - Madura Micro Finance Limited ('Transferor Company''), with CreditAccess Grameen Limited ('Transferee Company') under Sections 230 to 232 read with other applicable provisions of the Companies Act, 2013 and the Rules made thereunder.
(As per BSE Announcement Dated on 14/3/2022)
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that the National Company Law Tribunal, Chennai Bench, where the petition for the approval of Scheme of Amalgamation is filed by Madura Micro Finance Limited, the Transferor Company, has issued an Order fixing the next date of hearing as September 08, 2022, for consideration of approval of the Scheme of Amalgamation with CreditAccess Grameen Limited, the Transferee Company.
(As Per BSE Announcement dated on 28.07.2022)
Pursuant to the Order of the Hon'ble National Company Law Tribunal, Chennai Bench, Madura Micro Finance Limited, the Transferor Company has caused a public notice of final hearing of Petition, by way of an advertisement in the newspapers. Publication copy is enclosed.
(As Per BSE Announcement Dated on 09.08.2022)
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that the National Company Law Tribunal, Bengaluru Bench, where the petition for the approval of Scheme of Amalgamation is filed by the Company, has issued an Order fixing the next date of hearing as September 21, 2022, for consideration of approval of the Scheme of Amalgamation with Madura Micro Finance Limited, the Transferor Company.
(As Per BSE Announcement Dated on 19.08.2022)
We wish to inform that the Company has received the signed copy of the Order dated October 12, 2022, from the National Company Law Tribunal, Chennai Bench, with respect to the Petition filed for the Scheme of Amalgamation by Madura Micro Finance Limited, the Transferor Company, with CreditAccess Grameen Limited, the Transferee Company.
(As Per BSE Announcement Dated on 20/10/2022)
We wish to inform that the National Company Law Tribunal, Bengaluru Bench, where the Petition for approval of Scheme of Amalgamation is filed by the Company (Transferee Company), has reserved the matter for pronouncing the Order.
(As per BSE Announcement Dated on 19/12/2022)
The National Company Law Tribunal, Bengaluru Bench, has today i.e., February 7, 2023, pronounced the order approving the Scheme of Amalgamation between the Company (Transferee Company) and Madura Micro Finance Limited (Transferor Company). However, the signed copy of the said order is awaited.
(As Per BSE Announcement Dated on 07/02/2023)
Certified True Copy of the final order by the NCLT, Bengaluru bench, approving the Scheme of Amalgamation between the Company and Madura Micro Finance Limited.
(As per BSE Announcement Dated on 14/02/2023)
We hereby inform that the Board of Directors of the Company has, at its meeting held today i.e. on Wednesday, February 15, 2023, inter-alia considered Effective Date of the Scheme of Amalgamation and Record Date for further allotment of equity shares.
The Board of Directors has fixed Friday, March 3, 2023 as the 'Record Date' for the purpose of determining the shareholders of Madura Micro Finance Limited, to whom equity shares of the Amalgamated Company would be allotted pursuant to the Scheme.
(As Per BSE Announcement dated on 15.02.2023)
Allotment of equity shares to the eligible equity shareholders of Madura Micro Finance Limited, pursuant to Scheme of Amalgamation.
(As Per BSE Announcement Dated on 27.03.2023) | Powered by Capital Market - Live News |
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