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Announcement under Regulation 30 (LODR)-Scheme of Arrangement

June 19, 2019, 4:15 pm | Source: BSE | Downlaod PDFDownload PDF

1.This is in furtherance of our letters dated June 10 2019 and June 13 2019 wherein we had intimated that the composite scheme of arrangement among the Bank BFIL IFIL and their respective shareholders and creditors pursuant to Sections 230 to 232 and other applicable provisions of the Companies Act 2013 (Scheme) has been approved by the National Company Law Tribunal Mumbai Bench (Honble NCLT) vide its order dated June 10 2019 (NCLT Order).

2.We are pleased to inform you that the meeting of the Board of Directors of BFIL (Board) was duly convened today i.e. on June 19 2019 and the Board inter alia considered and noted the NCLT Order and fixed Thursday July 4 2019 as the Effective Date of the Scheme on which date the NCLT Order will be filed by the Bank BFIL and IFIL with the jurisdictional Registrar of Companies.