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| Exchange Disseminated Time 19/07/2016 18:27:37 | Anant Raj Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 19, 2016,
has considered and approved the composite scheme of arrangement comprising of the following: -
1. Demerger of Real Estate Division (Demerged Undertaking 1) of Anant Raj Agencies Private Limited (ARAPL/ Demerged Company 1/Amalgamating Company) into Tauras Promoters & Developers Private Limited (TPDPL/ Resulting Company 1) and subsequent amalgamation of Remaining ARAPL with the Company.
2. Demerger of Project Division (Demerged Undertaking 2) of the Company into Anant Raj Global Limited (ARGL/ Resulting Company 2) (a WOS of the Company, under incorporation) and subsequent listing of ARGL at BSE Limited (BSE) and National Stock Exchange of India Limited (NSE).
The above provisions of the Scheme shall be effected in accordance with the provisions of Section 391 -394 of the Companies Act, 1956 or the corresponding provisions of the Companies Act, 2013.
The above scheme of arrangement shall be subject to the approval of High Court (s), Shareholders and Creditors of all the Companies. The Listing of ARGL is subject to exemption from SEBI in terms of Rule 19(2)(b) of Securities Contract (Regulations) Rules, 1957. |
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