Kajaria Ceramics receives NCLT approval for scheme of amalgamation

Kajaria Ceramics announced that the Chandigarh Bench of the Hon'ble National Company Law Tribunal (NCLT) has approved Scheme of Amalgamation amongst Kajaria Tiles and Kajaria Ceramics and their respective Shareholders and Creditors (Scheme).

On 22 December 2021, the Company has received the formal order dated 26 November 2021 passed by the Hon'ble NCLT, Chandigarh. The Scheme shall be effective from the Appointed Date i.e. w.e.f. 01 April 2019.

Kajaria Tiles (KTPL) is a wholly-owned subsidiary of the Company and hence, as per the Scheme, shareholding of the Company in KTPL will automatically be cancelled upon scheme becomingeffective and no new shares will be issued consequent upon the said amalgamation under the Scheme.

Powered by Capital Market - Live News