ALSO READBoard of Future Enterprises approves conversion of OCDs under scheme of arrangement Future Retail fixes record date for composite scheme of arrangement Board of Lykis approves scheme of arrangement Board of Florence Investech approves scheme of arrangement Board of HSIL approves composite scheme of arrangement
At meeting held on 06 December 2017The Board of Future Retail at its meeting held on 06 December 2017 has approved the Scheme of Arrangement between Hypercity Retail and Future Retail. The Scheme provides for the demerger of retail business undertaking of Hypercity Retail into the Company and for reorganisation and reclassification of balance lying in the capital reserves account into securities premium account of the Company. Pursuant to the Scheme, no consideration shall be discharged by Future Retail since Hypercity Retail is a wholly owned subsidiary of the Company as on the Appointed Date.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)