Saksoft Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 29, 2013, has approved the draft Scheme of Amalgamation of its wholly owned subsidiary M/s. Synetairos Technologies Limited with M/s. Saksoft Limited subject to the approval of the Honble High Court of Madras and relevant statutory authorities as may be necessary.
M/s. Synetairos Technologies Limited (Transferor Company), being a wholly owned subsidiary of the Company and its entire equity share capital being held by the Company, there is no issue of equity shares by Saksoft Limited (Transferee Company) pursuant to the scheme.
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