NCLT directs Indo Count to convene a meeting for amalgamation scheme with Pranavaditya Spinning Mills

The NCLT has dispensed with the requirement of holding the meeting of the secured and unsecured creditors of the company.

Sep 28, 2021 04:09 IST India Infoline News Service

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National Company Law Tribunal (NCLT'), Mumbai Bench vide its order dated August 18, 2021 (uploaded on NCLT website on September 27, 2021) on the scheme of amalgamation, has directed Indo Count Industries Limited to convene a meeting of the Equity Shareholders of the company on November 15, 2021, at 2.30 PM (IST) through Video Conferencing (VC) / Other Audio-Visual Means (OAVM) for consideration and approval of the proposed Scheme of Amalgamation of Pranavaditya Spinning Mills Limited, Subsidiary of Company with Indo Count Industries.

The company further said that vide the aforesaid order, the NCLT has dispensed with the requirement of holding the meeting of the secured and unsecured creditors of the company.

Indo Count Industries Ltd ended flat at Rs298.90 per piece on the BSE.

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