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| Exchange Disseminated Time 25/10/2016 16:01:21 | Asian Paints Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 25, 2016, inter alia, approved the Scheme of amalgamation of Asian Paints (International) Limited, Mauritius, wholly owned subsidiary of the Company with Asian Paints Limited, pursuant to Sections 391 to 394 and other applicable provisions, if any, of the Companies Act, 1956 and the Companies Act, 2013 (to the extent notified) (“Scheme”).
The Scheme will come into effect subject to the approval from the Stock Exchanges, Hon’ble Bombay High Court and such other statutory authorities as may be required in India and Mauritius.
It may be noted that the proposed Scheme has been reviewed and recommended for approval by the Audit Committee of the Board of the Company at its meeting held on October 24, 2016. |
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