The Board of Oriental Carbon & Chemicals at its meeting held on 24 May 2022 has approved the Scheme of Arrangement between the Company and OCCL (Resulting Company) and their respective shareholders and creditors, which inter alia provides for the demerger, transfer and vesting of the Demerged Undertaking (as defined in the Scheme) from the Company into the Resulting Company, on a going concern basis and in consideration thereof, the Resulting Company shall issue its equity shares to the equity shareholders of the Company in the same proportion as their holding in the Company. Powered by Capital Market – Live News
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