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Mahindra Composites: Updates on Scheme of Amalgamation


With reference to the earlier letters dated June 15, 2013, May 12, 2014, May 17, 2014, June 07, 2014, August 16, 2014 and November 03, 2014, Mahindra Composites Ltd has now informed BSE that the scheme of amalgamation between Mahindra Composites Limited (referred as 'Transferor Company') and Mahindra CIE Automotive Limited ('Transferee Company') and their respective shareholders and creditors ('Composite Scheme') has become effective on December 10, 2014.

Further, in terms of the Composite Scheme, the Transferee Company will fix a Record date for identifying the shareholders of the Transferor Company to whom the equity shares of the Transferee Company will be issued pursuant to the effectiveness of the Composite Scheme.