Record date is 20 December 2016
AXISCADES Engineering Technologies announced that the Board of Directors of the Company have approved and fixed the record date as 20 December 2016 for ascertaining the eligible shareholders of India Aviation Training Institute to issue and allot New Equity Shares of the Company to such shareholders as on the record date in accordance with the Scheme of Amalgamation. Thereby the Register of Members and Share Transfer Register of India Aviation Training Institute shall remain closed for one day i.e. 20 December 2016.Further, the Company informed that the Scheme of Amalgamation between AXISCADES Engineering Technologies Limited and India Aviation Training Institute Private Limited and their Respective Shareholders ("Scheme") approved by the Hon'ble High Court of Karnataka has become effective on and from 05 December 2016.
In accordance with clause 14 of the Scheme, India Aviation Training Institute shall stand dissolved without winding-up and accordingly, AXISCADES Aerospace & Technologies (hitherto a wholly-owned subsidiary of India Aviation Training Institute) together with its subsidiaries, has become a wholly-owned subsidiary of the Company.
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