CreditAccess Grameen update on scheme of amalgamation

CreditAccess Grameen announced that in connection with the Merger of Madura Micro Finance (MMFL), the Material Subsidiary of the Company (Transferor Company) with CreditAccess Grameen (Transferee Company), both the entities have now filed the First Motion Petitions before the jurisdictional benches of National Company Law Tribunal at Chennai and Bengaluru, respectively.

The Scheme of Merger provides for the amalgamation of Transferor Company into the Transferee Company and the consequent issuance of equity shares by the Transferee Company to the Shareholders of the Transferor Company under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013.

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