Zuari Industries Ltd

The Board in meeting held on 09.01.2023 had approved the scheme of amalgamation between Zuari Sugar & Power Limited (Transferor Company/ ZSPL) wholly owned subsidiary of the Company and Zuari Industries Limited (Transferee Company/ ZIL/ Company) under Sec 233 of Companies Act 2013 (Act) through fast track route. However in view of the practical difficulties faced in implementation of the Scheme under fast track route the Board in its meeting held today has inter alia approved the scheme of amalgamation of ZSPL with ZIL and their respective shareholders and creditors under Sec 230 to 232 and other applicable provisions of the Act and rules framed thereunder (Scheme) i.e. through NCLT approval route.