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Board of Indrayani Biotech discuss scheme of arrangement

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At meeting held on 03 December 2019

The Board of Indrayani Biotech at its meeting held on 03 December 2019 has discussed about the proposed Scheme of Arrangement of Indrayani Biotech (transferee company) with Helios Solutions (transferor company 1) and A-diet Express Hospitality (transferor company 2).

The company had filed necessary document related to Regulation 37 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, with BSE Limited. On 20 November 2019, the Company received an observation letter from BSE Limited stating no adverse observation for the proposed Scheme of Arrangement. In continuation to that, the Board of Directors decided to file necessary Application with National Company Law Tribunal (NCLT), Chennai. The draft Application has been presented to the Board and the same has been approved.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, December 03 2019. 10:57 IST