TPL Plastech receives NCLT Ahmedabad approval for scheme of amalgamation

The approval date for the scheme of amalgamation of Ecotech Green Lifecycle with TPL Plastech is April 1, 2019.

Jun 08, 2021 04:06 IST India Infoline News Service

TPL Plastech Limited informed the exchanges Tuesday that the Ahmedabad Bench of the National Company Law Tribunal (NCLT) has granted approval for the Scheme of Amalgamation of Ecotech Green Lifecycle Limited with TPL Plastech Limited and their respective shareholders.

The appointed date for the said Scheme of Amalgamation is April 1, 2019. Ecotech Green Lifecycle is a wholly owned subsidiary company of TPL Plastech and accordingly the entire paid-up share capital i.e. equity share capital of the Transferor Company (Ecotech Green Lifecycle Limited) held by the Transferee Company (TPL Plastech Limited) shall without any act or deed stand automatically cancelled and be extinguished and in lieu thereof the Transferee Company (TPL Plastech Limited) shall not be required to issue and / or allot any shares to the members of the Transferor Company (Ecotech Green Lifecycle Limited).

TPL Plastech Ltd trade on Tuesday ended at Rs248 per piece up by Rs5.1 or 2.1% from its previous closing of Rs242.90 per piece on the BSE.

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