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).
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“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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