Bata India announces restructuring of subsidiaries

Bata India announces restructuring of subsidiaries

Sep 17, 2020 09:09 IST capital market

Bata Properties (BPL) (a wholly owned subsidiary of Bata India) and Coastal Commercial & Exim (CCEL) (a wholly owned subsidiary of BPL), have, at their respective Board Meetings, held on 16 September 2020, approved the proposed Scheme of Amalgamation between CCEL (?Transferor Company?) and BPL (?Transferee Company?) pursuant to the provisions of Section 233 of the Companies Act, 2013 (as amended) (including rules made thereunder), subject to necessary approvals and compliances.

Upon completion of the said amalgamation, CCEL will cease to be a subsidiary of BPL and in turn of the Company.

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