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| Exchange Received Time 27/04/2018 17:34:42 Exchange Disseminated Time 27/04/2018 17:34:43 Time Taken 00:00:01 | The Board of Directors of Axis Bank Limited ('Bank') at its meeting held on 26th April 2018, has considered and approved the Scheme of Amalgamation of Accelyst Solutions Private Limited ('Transferor Company') with Freecharge Payment Technologies Private Limited ('Transferee Company'), both wholly owned subsidiaries of the Bank under Sections 230-232 of the Companies Act, 2013 ('Scheme').
The Scheme is subject to necessary statutory and regulatory approvals including approval of the Hon'ble National Company Law Tribunal, and the relevant stakeholders of the Transferor Company and the Transferee Company.
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with circular no. CIR/CFD/CMD/4/2015 dated September 09, 2015, the Bank has enclosed the necessary information with respect to the Scheme in Annexure A.
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