Gujarat Borosil receives NCLT approval for composite scheme of amalgamation and arrangement

On 15 January 2020

Jan 17, 2020 10:01 IST capital market

Gujarat Borosil announced that that the National Company Law Tribunal, Mumbai Branch vide its order dated 15 January 2020 has approved the composite scheme of amalgamation and arrangement between Vyline Glass Works (transferor company 1), Fennel Investment and Finance (transferor company 2), Gujarat Borosil (transferor company 3) and Borosil Glass Works (transferee company) and Borosil (resulting company) and their respectively shareholders.

The appointed date of the scheme is 01 October 2018 and the scheme will be effective from date of filing the NCLT order with the Registrar of Company, Mumbai.

As per the Scheme, inter-alia, the Company, Gujarat Borosil will amalgamate with Borosil Glass Works and shall stand dissolved without winding up as per Clause 18 of the Scheme.

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