BASF India gets NCLT approval for Scheme of Merger

The scheme by absorption of BASF Performance Polyamides with the company will come into effect from February 1.

Jan 12, 2021 04:01 IST India Infoline News Service

BASF India
National Company Law Tribunal, Mumbai has sanctioned BASF India Limited’s Scheme of Merger by absorption of BASF Performance Polyamides India Pvt Ltd with the company. The Scheme will come into effect from February 1, 2021.

“We refer to our earlier letter dated August 27, 2020, wherein the company had informed about the Board of Directors approving the Scheme of Merger by absorption of BASF Performance Polyamides India Pvt Ltd, a Wholly Owned Subsidiary, with BASF India Limited and their respective Shareholders, subject to necessary statutory and regulatory approvals, including the approval of National Company Law Tribunal, Mumbai.

NCLT, Mumbai vide Order dated January 6, 2021 (uploaded on NCLT website on January 12, 2021) have sanctioned the Scheme of Merger by absorption of BASF Performance Polyamides India Pvt Ltd, a Wholly Owned Subsidiary, with BASF India Limited, effective February 1, 2021 (being the Appointed Date),” company updated the exchanges on Tuesday.

BASF India Ltd trade ended at Rs1,685.10 per piece up by Rs1.5 or 0.09% on the BSE.

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