Vakrangee receives NCLT approval for demerger of Governance and IT/ITES division

The Hon'ble National Company Law Tribunal (NCLT) on 20 January 2023 approved the creation of two separate listed entities viz. Vakrangee and VL EGovernance & IT Solutions. Vakrangee is already a listed entity and VL EGovernance & IT Solutions is to be listed as a separate entity.

The Board had approved the demerger of the Governance and IT/ITES division in November, 2021. Subsequently, in connection with the composite scheme of arrangement, the Company has obtained consent from SEBI, Stock Exchanges, and clearances from other stakeholders.

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