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Home  >  Market  >  Corp Announcements  >  De-Mergers
De-Mergers
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H L E Engineers Pvt Ltd [16-Jan-19]
Outcome of Board Meeting convened on 16th January, 2019
Radiant Life Care Pvt Ltd [24-Dec-18]
This is to inform that the Board of Directors of the Company, at its meeting held today, has considered and approved a composite scheme of amalgamation and arrangement amongst Max India Limited ('Max India' or ''the Company''), Max Healthcare Institute Limited (''Max Healthcare''), Radiant Life Care Private Limited (''Radiant Life'') and a wholly owned subsidiary of the Company to be incorporated for this purpose (''NewCo'') and their respective shareholders and creditors ('Scheme') under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013.
Max India Ltd [24-Dec-18]
This is to inform that the Board of Directors of the Company, at its meeting held today, has considered and approved a composite scheme of amalgamation and arrangement amongst Max India Limited ('Max India' or ''the Company''), Max Healthcare Institute Limited (''Max Healthcare''), Radiant Life Care Private Limited (''Radiant Life'') and a wholly owned subsidiary of the Company to be incorporated for this purpose (''NewCo'') and their respective shareholders and creditors ('Scheme') under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013.
Thomas Cook (India) Ltd [19-Dec-18]
We hereby inform you that, the Board of Directors of Quess Corp Limited ('the Company') at its meeting held today has unanimously approved and considered the Composite Scheme of Arrangement and Amalgamation between Thomas Cook (India) Limited ('TCIL'), Quess Corp Limited ('QCL'), subsidiaries of TCIL and their respective shareholders ('the Scheme') in accordance with the provisions of Section 230 to 232 read with Sections 52, 55 and 66 of The Companies Act, 2013. The Scheme, inter-alia, provides Demerger of the human resource services business of TCIL relating to staffing / human resource services for conducting tours and other businesses, talent development and training, resource management, facilities management services, selection services, food services and engineering services (Demerged Undertaking 2) from TCIL into QCL. Please find attached disclosure under SEBI LODR and proposed press release on the aforesaid subject. With reference to the captioned subject, we hereby inform you that, the Administration & Investment Committee of the Board of Directors of Quess Corp Limited ('the Company') at its meeting held today has unanimously approved the amendments in the Composite Scheme of Arrangement and Amalgamation between Thomas Cook (India) Limited ('TCIL'), Quess Corp Limited ('QCL'), subsidiaries of TCIL and their respective shareholders ('the Amended Scheme') in accordance with the provisions of Section 230 to 232 read with Sections 52, 55 and 66 of the Companies Act, 2013. The amended Scheme is subject to requisite statutory and regulatory approvals and sanction by the respective shareholders of each of the companies involved in the Scheme. It may be noted that the amended Scheme has been reviewed and recommended by the Audit Committee of the Company on December 19, 2018. (As Per BSE Announcement Dated On 19/12/2018)
India Land & Properties Pvt Ltd [18-Dec-18]
Pls be informed that the board of directors of Indiabulls Real Estate Ltd (the Company) has approved a composite scheme of arrangement amongst the Company, Indiabulls Infrastructure Ltd, a direct subsidiary, and India Land and Properties Ltd, a step down subsidiary owning Chennai Assets (Scheme). The Scheme aims to simplify the corporate structure to facilitate the agreed divestment of Chennai Assets, in tranches, to the entities controlled by the Blackstone Group L.P. (Blackstone). There shall not be any change in the shareholding pattern of the Company, as the Company shall not issue any shares or pay any consideration, pursuant to said Scheme. The Scheme is subject to applicable regulatory and corporate approval(s), including the approvals/ no-objection certificate from stock exchanges, SEBI, NCLT and other authority(ies). The disclosure, in terms of SEBI Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 are attached as Annexure I.
Datamatics Global Services Ltd [14-Dec-18]
The Board of Directors have, at their meeting held today i.e December 14, 2018, inter-alia, considered and approved the Composite Scheme of Arrangement between Lumina Datamatics Limited, Datamatics Global Services Limited, LDR eRetail Limited and their respective shareholders.
Kesoram Industries Ltd [04-Dec-18]
Please be informed that as recommended by the Audit Committee of the Company, the Board of Directors of Kesoram Industries Limited ('Company') at its meeting held on 4th December, 2018 has approved the demerger of the Company's Tyre Undertaking into Birla Tyres Limited ('Resulting Company'), to be implemented in terms of the Scheme of Arrangement ('Scheme') between the Company, Resulting Company and their respective Shareholders and Creditors under Sections 230 and 232 of the Companies Act, 2013 and other applicable provisions of the Act ('Proposed Demerger'),. The Proposed Demerger shall be subject to the approval / sanction of the Scheme by National Company Law Tribunal, Kolkata Bench and such other authorities, as may be necessary.
Vodafone Idea Ltd [29-Nov-18]
Vodafone Idea Limited has informed the exchange regarding the Scheme of Arrangement between the Company and its wholly owned subsidiary.
Jindal Poly Films Ltd [12-Nov-18]
Board of Directors of the Company at its meeting held on November 12, 2018, has approved the scheme of Arrangement.
Alembic Ltd [03-Nov-18]
he Board of Directors of Alembic Limited at its meeting held today has: a) Approved the Unaudited Financial Results of the Company for the quarter and half year ended 30th September, 2018; and b) On recommendation of the Audit Committee, considered and approved Composite Scheme of Arrangement ('Scheme') for the transfer and vesting of the Identified Real Estate Undertaking of Alembic Limited ('the Company' or 'the First Demerged Company'), comprising of a real estate development project along-with related real estate interest and Project Management Consultancy business into Shreno Limited ('the First Transferee Company' or 'the Second Demerged Company') and transfer and vesting of Engineering Division and Investment Division of Shreno Limited into Nirayu Private Limited ('the Second Transferee Company') and their respective shareholders with effect from the Appointed Date i.e. 1st November 2018. With reference to captioned matter, we would like to hereby inform as under: The Board of Directors of the Company on the recommendation of the Audit Committee has considered and approved the Composite Scheme of Arrangement ('Scheme') comprising of the transfer and vesting of the Identified Real Estate Undertaking of Alembic Limited ('the Company' or 'the First Demerged Company' or 'Alembic'), comprising of a real estate development project alongwith related real estate interest and Project Management Consultancy business into Shreno Limited ('the First Transferee Company' or 'the Second Demerged Company' or 'Shreno') and transfer and vesting of Engineering Division and Investment Division of Shreno Limited into Nirayu Private Limited ('the Second Transferee Company' or 'Nirayu') and their respective shareholders with effect from the Appointed Date i.e. 1st November, 2018. For the purpose of determining the Post-demerger cost of acquisition of: (a)Equity shares of Alembic Limited; and (b)7% Non-Convertible Cumulative Redeemable Preference Shares of Shreno Limited; under the Income Tax Act 1961, the shareholders are required to apportion their pre-demerger cost of acquisition of Equity shares of Alembic Limited in the specified ratio, as prescribed under Section 49(2C) & 49(2D) of Income Tax Act 1961. Based on the Unaudited Reviewed Financial Statements as on 30th September 2018, the Provisional ratio for determining the post-demerger cost of acquisition would be as under: Name of Company & Security Provisional Deemed Post-demerger Cost of acquisition Alembic Limited - Equity Shares 98.75% Shreno Limited - 7% Non-Convertible Cumulative Redeemable Preference Shares 1.25% Total 100.00% This communication is for the benefit of the shareholders and the Company takes no express or implied liability in providing this guidance. (As Per BSE Announcement Dated on 16.11.2018)
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