In the matter of ongoing composite Scheme of Amalgamation and Arrangement, we wish to inform that NCLT, Chandigarh pronounced the order approving the said Scheme (???Order???) on July 21, 2022, copy of which is made available on the website of the NCLT today i.e. July 22, 2022. The certified copy of the Order passed by NCLT is awaited and the Scheme shall be made effective after receipt of the same. Pursuant to the Scheme, the shareholders of the Company will get shares of Indiabulls Enterprises Limited (???IEL???), free of any cost, in lieu of their shareholding in the Company. IEL shares will get listed on NSE and BSE and with this, post effectiveness of the Scheme, the shareholders of the Company will have shares of two listed entities ??? (1) the Company, the equity shares of which are listed and will remain listed on NSE and BSE, and (2) IEL, equity shares of which will be listed on NSE and BSE. (for details, ref attachment)
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