Industry-wise breakup of the schemes filed is as follows:

Industry No. of Deals
June 2016 April 2016
Agriculture 1 3
Chemicals 4 3
Entertainments 5
Financial Services 7 16
Information Technology 1 11
Investment 1 2
Others 2 13
Pharmaceuticals
Power 2 2
Publication 1
Real Estate 2 16
Travel Support Services
Textile 1 3
Total 21 75

This month 21 (Twenty-one) Schemes were filed, involving 61 (Sixty-one) Companies, of which 16 (Sixteen) Schemes were Scheme of Amalgamation, 3 (Three) Schemes were Scheme of Demerger and 1(One) was Scheme of Arrangement, 1(One) was Composite Scheme of Arrangement.

Other facts are:-

  • 2 (Two) Companies were Listed Company.
  • 8 (Eight) Companies have paid-up Capital of more than Rs. 10 Crores.
  • 2 (Two) Schemes were Merger between Holding Company and Subsidiary Company.

In June,2016 issue of M& A Critique above data was not reported as court was on vacation from 9th May,2016.In this issue, we have covered the cases for the month of May and June 2016 .

DETAILS OF SCHEME

SCHEME OF AMALGAMATION:

BALKRISHNA SYNTHETICS LIMITED  WITH  SIYARAM SILK MILLS LIMITED

Siyaram Silk Mills Limited, the Transferee Company has not filed application for Amalgamation with the High Court based on the Judgment in case of Mahaamba Investments Limited and IDI Limited (2001) 105 Company Cases page 16 to 18, that if there is no effect on the rights of the members or creditors of the Transferee Company as between themselves or does not involve reorganisation of the share capital of the Transferee Company, no application/petition by the Transferee Company is necessary.

PETITIONS ADMITTED

The number of Schemes admitted was 32 (Thirty-two) of which 27 (Twenty-seven) Schemes were Schemes of Amalgamation, 1(One) Schemes was Schemes of Arrangement, 3(Three) Schemes were Schemes of Demerger, 1(One) was Composite Scheme of Arrangement.

IMPORTANT ONES ARE LISTED BELOW:

Scheme of Amalgamation

  • Kirloskar Systech Limited with Kirloskar Brothers Limited.
  • Jet Lite (India) Limited with Jet Airways (India) Limited.
  • Whitehills Advisory Services Private Limited with Essel Propack Limited

Scheme of Arrangement

  • Crystal Sound & Music Private Limited and Spectrum Broadcast Holdings Private Limited and Jagran Prakashan Limited and Shri Puran Multimedia Limited and Music Broadcast Limited.

PETITIONS SANCTIONED

The numbers of Schemes sanctioned were 16 (Sixteen) of which 13 (Thirteen) Schemes were Schemes of Amalgamation, 2 (Two) Schemes were Schemes of Demerger, 1 (Three) Scheme was Composite Scheme of Arrangement.

IMPORTANT ONES ARE LISTED BELOW:

Scheme of Amalgamation

  • Gitanjali Exports Corporations Limited with Gitanjali Gems Limited

Scheme of Demerger

LKP Finance Limited and LKP Securities Limited.

Do you think we missed some schemes? Let us know in the comment section below. For Details of schemes you can visit <a href=”https://mergersindia.com/mergeronline/schemes.php” target=”_blank”>mergersindia</a>
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