We would like to inform that Honble National Company Law Tribunal Ahmedabad Bench ["NCLT"] has sanctioned the Composite Scheme of Arrangement between Alembic Ltd and Shreno Ltd and Nirayu Pvt Ltd and their respective shareholders ["Scheme"].
A copy of the order of NCLT [Order] as uploaded on the website of NCLT is enclosed herewith for your records.
In accordance with Clause 5.1 of the Scheme eligible equity shareholders of Alembic Ltd whose name appears in the register of members as on the Record Date shall be issued and allotted 1 (one) 7% Non-Convertible Cumulative Redeemable Preference Shares-I by Shreno Ltd as consideration for transfer and vesting of Demerged Undertaking 1 to Shreno Ltd for every 1 fully paid up equity share of Rs. 2/- each held by them in Alembic Ltd.
The Scheme will become effective upon filing of the certified copy of Order with the Registrar of Companies Gujarat. The same will be intimated to the Stock Exchanges in due course.
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