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| Exchange Received Time 28/03/2017 11:52:02 Exchange Disseminated Time 28/03/2017 11:52:08 Time Taken 00:00:06 | | 1. We would like to inform you that the Board of Directors ('Board') of Mukand Limited ('Company' or 'Mukand'), at its meeting held on 27th March, 2017, considered and approved, after recommendation of the Audit Committee of the Company, a scheme of arrangement and amalgamation amongst the Company, Whiteleaf Multiventures Pvt. Ltd. (Proposed Name: Whiteleaf Heavy Machinery Pvt. Ltd.) ('Whiteleaf') and Avista Diam & Gold Pvt. Ltd. (Proposed Name: Technosys Industrial Machinery Pvt. Ltd.) ('Avista') and their respective shareholders and creditors under the provisions of Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 ('Scheme') as detailed below: 1.1. Slump exchange of industrial machinery business of the Company ('Transferred Undertaking') to Whiteleaf on a going concern basis ('Slump Exchange'); 1.2. Amalgamation of Whiteleaf (post Slump Exchange) with Avista in accordance with Section 2(1B) of the Income Tax Act, 1961 ('Amalgamation'). |
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