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S&P
BSE SENSEX
73,651.35
+655.04
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Corporate Announcement
Security Code
500179
Company
HCL Infosystems Ltd
Exchange Received Time
06/08/2020 17:09:57
Exchange Disseminated Time
06/08/2020 17:10:04
Time Taken
00:00:07
Intimation Of Board Approval Of HCL Infosystems Limited For Merger Of Wholly Owned Subsidiaries With The Company |
08/06/20 17:10
In terms of Regulation 30 read with Part A of Schedule III as per SEBI (LODR) Regulations, 2015, we wish to inform you that the Board of Directors of HCL Infosystems Limited ('the Company'), in their meeting held today i.e. 6th August, 2020 has considered and given its approval for the following -
The Board considered and approved merger of HCL Learning Limited and DDMS with the Company. HCL Learning Limited and DDMS are wholly owned subsidiaries of the Company.
The proposed merger is for the purpose of simplifying and streamlining the group structure of the Company and reduce administrative costs.
The proposed merger shall be implemented through a scheme of amalgamation under the provisions of Section 230 to 232, and other applicable provisions of the Companies Act, 2013 and shall be subject to the approvals of National Company Law Tribunal, shareholders and creditors of the Company and such other approvals as may be required in this regard.
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