Satin Creditcare subsidiaries approve scheme of amalgamation; Stock trades flat

According to the scheme, Taraashna Financial Services will merge with Satin Finserv.

Aug 04, 2021 12:08 IST India Infoline News Service

Satin Credit
Satin Creditcare Network Limited informed the exchanges Tuesday that the Board of Directors of two wholly-owned subsidiaries of the company name, Taraashna Financial Services Limited and Satin Finserv Limited, at their respective meetings held on August 3, 2021, have approved a draft Scheme of Arrangement for Amalgamation of Taraashna Financial Services (Transferor Company) with Satin Finserv Limited (Transferee Company) and their respective shareholders and creditors (Scheme).
“The Scheme is conditional and subject to obtaining other necessary regulatory approvals under applicable laws, including approval of Hon'ble National Company Law Tribunal of relevant jurisdiction,” company said in a filing.

At around 12.46 PM, Satin Creditcare Network Ltd was trading at Rs85.70 per piece up by Rs0.3 or 0.35% from its previous closing of Rs85.40 per piece on the BSE.

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