Archidply Decor Ltd

Archidply Decor Ltd

Archidply Decor Limited was incorporated on 14 June 2017 under the provisions of Companies Act 1956. The Company is engaged in the business of manufacturing and trading of Wood Based Products like Decorative Laminates Decorative Veneers Plywood & Block Board Pre-laminated Particle Board. The Company is procuring raw material & trading goods locally as well as imports them. The Company export goods both in domestic and overseas markets.The Board of Directors of Company and Archidply Industries Limited at their meeting held on 30th May 2018 had pursuant to the provisions of 230 to 232 read along with Section 52 and 66 of the Companies Act 2013 and subject to approval of the shareholders National Company Law Tribunal (NCLT) Stock Exchanges where shares of the Company are listed and other relevant Authorities approved Scheme of Arrangement between Archidply Industries Limited (Demerged Company) and Archidply D?cor Limited (Resulting Company). The Scheme of Arrangement involved for Demerger and transfer of Demerged Undertaking i.e. Chintamani Undertaking of the Archidply Industries Limited into Archidply D?cor Limited. During the year the Company received Order dated 8th January 2020 of the Hon'ble National Company Law Tribunal (NCLT) Allahabad Bench Allahabad approving demerger of Chintamani Undertaking and has been given effect during the current financial year effective from 31st January 2020. The Appointed Date for Scheme of Arrangement is 01st April 2018. With effect from Appointed Date i.e. 1st April 2018 the respective businesses of Demerged Undertaking Archidply Industries Limited stands transferred into Company Archidply Decor Limited (the Resulting Company or `ADL').On 20th February 2020 the Company issued 5516250 shares at par to shareholders of Archidply Industries Limited as per Demerger Scheme i.e Demerger of Chintamani unit of Archidply Industries Limited to the Company as approved by NCLT. As per the Scheme each and every shareholder of Archidply Industries Limited supposed to get one share of the Company against four shares held in Archidply Industries Limited.