Board of Texmaco Rail & Engineering approves scheme of arrangement

At meeting held on 31 January 2025

The Board of Texmaco Rail & Engineering at its meeting held on 31 January 2025 has inter-alia considered and approved the Scheme of Arrangement between the Company and Belgharia Engineering Udyog, a wholly owned subsidiary of the Company (Transferee Company or BEL) and their respective shareholders and creditors under the under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 (Act) (Scheme), which inter alia provides for transfer of the Transferred Undertaking (as defined in the Scheme) from the Transferor Company to the Transferee Company as a going concern on slump exchange basis, with effect from the Appointed Date (as defined in the Scheme) and various other matters consequential thereto or otherwise integrally connected therewith in the manner set out in the Scheme.

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