Info Edge receives NCLT approval for amalgamation of High Orbit Careers

24 Feb 2022 , 12:50 PM

Info Edge India Limited (Naukri) has received National Company Law Tribunal, New Delhi (NCLT) approval for amalgamation of wholly-owned subsidiary company High Orbit Careers into and with Info Edge.

“National Company Law Tribunal, New Delhi which had earlier reserved the matter, has pronounced the Order to sanction the Scheme of Amalgamation of wholly-owned subsidiary company High Orbit Careers Private Limited (Transferor Company), into and with Info Edge (India) Limited (the “Company” or “Transferee Company”). The Order was uploaded on the official portal of the NCLT today and accordingly, the same is being submitted to you for information and record,” company said in a filing on Thursday.

At around 12.52 pm, Info Edge (India) Ltd was trading at Rs4,302 per piece down by Rs107.55 or 2.44% from its previous closing of Rs4,409.55 per piece on the BSE.

The company said that Certified Copy of the Order is yet to be issued by the NCLT. Further, the Transferor Company is a wholly owned subsidiary of the Transferee Company. Hence, no new shares will be issued pursuant to the Scheme.

According to the statutory provisions and the terms stated under the Scheme of Amalgamation, it shall take place with effect from Appointed Date i.e. 01 April, 2020 and shall be operative from the Effective Date i.e. the date of filing of the certified copy of the order of the NCLT with the Registrar of Companies, NCLT of Delhi & Haryana.