Held on 03 February 2020
The Board of Directors of Gujarat Borosil at its meeting held 03 February 2020 has adopted the NCLT order pronounced on 15 January 2020. The Effective Date of the Scheme has been proposed as 12 February 2020.The Appointed Date of the Scheme, as set out in the Scheme and approved by the Hon'ble NCLT is 01 October 2018. All the assets and liabilities of the Company shall become assets and liabilities of Borosil Glass Works (Transferee Company / BGWL) with effect from the Appointed Date, once the Scheme becomes effective.
The Board has recommended to BGWL, the record date of 18 February 2020, to determine the shareholders inter alia of the Company, who shall be allotted shares of BGWL under the Scheme.
The company will be dissolved and trading of the Company's Securities shall stop with effect from 14 February 2020 (i.e. T-2 working days for delivery).
Further, pursuant to the Scheme, the name of Borosil Glass Works (BGWL) will be changed to Borosil Renewables (BRL).
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