|
| Exchange Received Time 09/11/2018 16:57:19 Exchange Disseminated Time 09/11/2018 16:57:27 Time Taken 00:00:08 | Our Board of Directors approved draft scheme of amalgamation of Agile Electric Sub Assembly Pvt Ltd with the Company on May 27,2017. Our Board of Directors at their meeting held on November 09,2018 taken note that our Company has completed the acquisition of Export Division of Agile Electric Sub Assembly Private Limited ('AESAPL') as a going concern ('Slump Sale') effective from October 01,2018. The Board has decided to cancel proposed amalgamation of AESAPL, for which observations letters were already been issued by National Stock Exchange and Bombay Stock Exchanges, since most of desired benefits have already been accrued due to acquisition of Export Division of AESAPL and also the Company has already issued Bonus Shares to Public Shareholders, other than Promoter & Promoter Group, as envisaged in draft Scheme of amalgamation.
Our Company will not make application with National Company Law Tribunal for amalgamation of AESAPL and continue operations as two separate legal entities.
|
|
|