Held on 03 October 2019
The Board of Bandhan Bank at its meeting held on 03 October 2019 has noted / approved the following matters -1. Certified copy of the Order dated 18 September 2019 passed by NCLT Ahmedabad sanctioning the Scheme received on 20 September 2019.
2. Certified copy of the Order dated 27 September 2019 passed by NCLT Kolkata sanctioning the Scheme received on 30 September 2019.
Bank 3. The "appointed date" of the Scheme is 01 January 2019, as approved by the Hon'ble NCLT Ahmedabad and Kolkata.
4. 17 October 2019 has been fixed as the "effective date" of the Scheme, on which date Orders passed by both the NCLTs will be filed with the respective jurisdictional Registrar of Companies by GRUH and the Bank, respectively.
5. In accordance with Regulation 42 of the Listing Regulations, Thursday, 17 October 2019 has been fixed as the "Record Date", following the effectiveness of the Scheme, for the purpose of determining the shareholders of GRUH who shall be entitled to receive the equity shares of the Bank, and also for determining portfolio of the Non-Convertible Debenture holders of GRUH which shall be shifted to the new International Securities Identification Numbers (ISINs) created by the Bank, pursuant to the effectiveness of the Scheme.
In accordance with the Scheme, the Bank will issue and allot to those shareholders whose names would appear as a member in the records of the depositories/register of members of GRUH, as the case may be, on the Record Date, 568 (five hundred and sixty-eight) fully paid-up equity shares of Rs. 10 each of the Bank, for every 1,000 (one thousand) fully paid-up equity shares of Rs. 2 each, held by such member in GRUH.
The equity shares proposed to be issued by the Bank in accordance with the Scheme of Amalgamation will be submitted for listing with BSE and the National Stock Exchange of India and they shall rank pari-passu in all respects with the existing equity shares of the Bank.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
