Phoenix Mills scheme of amalgamation becomes operative

12 Jan 2022 , 10:08 AM

The Phoenix Mills Limited and Phoenix Hospitality Company Private Limited, have filed the Certified True Copy of the National Company Law Tribunal (NCLT) Order in e-Form No. INC 28, sanctioning the Scheme of Amalgamation with their Jurisdictional Registrar of Companies i.e. Mumbai, Maharashtra.

Accordingly, the Scheme of Amalgamation has become operative from January 11, 2022. (‘Effective Date’) and Phoenix Hospitality Company Private Limited (Transferor Company) stands amalgamated with the Company (Transferee company) effective from April 01, 2019 (being the Appointed Date).

NCLT, Mumbai Bench vide its order dated December 21, 2021 had approved the Scheme of Merger by Absorption of Phoenix Hospitality Company with The Phoenix Mills and their respective shareholders (‘the Scheme’).

At around 10.10 AM, Phoenix Mills Ltd was trading at Rs994.35 per piece down Rs6.60 or 0.66% from its previous closing of Rs1,000.95 per piece on the BSE.