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BSE SENSEX
74,339.44
+486.50
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Corporate Announcement
Security Code
541578
Company
Varroc Engineering Ltd
Exchange Received Time
13/11/2019 15:23:03
Exchange Disseminated Time
13/11/2019 15:23:10
Time Taken
00:00:07
Scheme Of Amalgamation Of Varroc Lighting Systems (India) Private Limited ("VLSIPL") With Varroc Engineering Limited ("The Company Or VEL") And Their Respective Shareholders (''Scheme'') Under Regulation 37(6) Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 (''SEBI Listing Regulation) |
11/13/2019 3:23:05 PM
Referring to our letter dated November 12, 2019, submitted under Regulation 30 of the SEBI Listing Regulations, 2015, intimating that the Board of Directors of the Company at its Meeting held on 12th November, 2019, has approved the Scheme of Amalgamation of Varroc Lighting Systems (India) Private ("VLSIPL") with Varroc Engineering Limited ("the Company or VEL") and their respective shareholders (''Scheme'') under section 230 to 232 and other applicable provisions of the Companies Act, 2013.
VLSIPL, being the wholly owned subsidiary of VEL, in terms of Regulation 37(6) of the SEBI Listing Regulations, 2015, the provisions of the said Regulation 37 are not applicable to drafts schemes which solely provide for merger of a wholly owned subsidiary with its holding company. Hence, ''No Objection Letter'' or ''Observation Letter'' on the Scheme is not required to be obtained from the Stock Exchanges on which the equity shares of the Company are listed.
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