Board of Bajaj Electricals approves scheme of arrangement

8 Feb 2022 , 01:07 PM

The Board of Bajaj Electricals at its meeting held on 08 February 2022 has approved the scheme of arrangement between Bajaj Electricals (the ?Demerged Company? or ?Company?) and Bajel Projects (the ?Resulting Company?) and their respective shareholders as follows:

(a) Transfer by way of demerger of the Demerged Undertaking (as defined in the Scheme) consisting of Power Transmission and Power Distribution Business (as defined in the Scheme) of the Demerged Company into the Resulting Company and consequent issue of equity shares by the Resulting Company to the shareholders of the Demerged Company; and

(b) Various other matters consequential or otherwise integrally connected therewith.

The Scheme is subject to necessary statutory and regulatory approvals including the approval of Honble National Company Law Tribunal, Mumbai Bench.

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