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Board of Prudent Corporate Advisory Services approves draft scheme of arrangement

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Capital Market

At meeting held on 09 January 2023

The Board of Prudent Corporate Advisory Services at its meeting held on 09 January 2023 has approved the draft Scheme of Arrangement amongst Prudent Broking Services (PBSPL or the Demerged Company) and Prudent Corporate Advisory Services (the Company or PCASL or the Resulting Company) and their respective shareholders and creditors (the proposed draft Scheme) under section 233 of the Companies Act, 2013 read with other applicable provisions and the rules, regulations, circulars and notifications issued thereunder (including any statutory modification or re-enactment thereof). (Resulting Company and Demerged Company collectively referred to as Companies). The Demerged Company is wholly owned subsidiary of the Resulting Company.

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First Published: Jan 10 2023 | 1:02 PM IST

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