The Board of Directors of Kitex Garments Limited considered the Kitex Childrenswear Limited proposal and have approved a “Scheme of Arrangement between Kitex Childrenswear Limited and Kitex Garments Limited and their respective shareholders and creditors”, in compliance with Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 (“Scheme”).
Sudarshan Chemical completes Heubach Group acquisition – Integration shall be Key
In October 2024, Pune based Sudarshan Chemical Industries Limited (“SCIL”) took a bold step by announcing the acquisition of “Global Pigment Business Operations of the Heubach Group” (“Heubach”) of Germany. To put in...
11 hours ago
The Fine Print of QIP: Examining OneSource’s Eligibility After Scheme of Arrangement
Facts of the caseThe board of directors of OneSource Specialty Pharma Limited (“OneSource”) unlisted public company which was supposed to get listed pursuant to the proposed transaction, approved a scheme of arrangement...
1 day ago
Case Law: Can Assets & Liabilities transferred under Debt Restructuring through Scheme of Arrangement amount to Demerger
Facts of the Case: Petitions were filed u/s 391(2) & 394 of the Companies Act, 1956, praying sanction of scheme of arrangement regarding the restructuring of corporate debt of M/s Siel Limited i.e., assessee which...
4 days ago