At meeting held on 05 May 2021The Board of Maithan Alloys at its meeting held on 05 May 2021 has approved the Composite Scheme of Arrangement ( Scheme ) amongst Ma Kalyaneshwari Holdings ( MKH or Demerged Company or Transferor Company ) and Anjaney Land Assets ( ALAPL or Resulting Company ) and Maithan Alloys ( MAL or Transferee Companty or Company ) and their respective shareholders and creditor.
The Scheme provides for:
b. Upon the Demerger becoming effective, amalgamation of MKH with MAL.
Pursuant to the amalgamation, there will be no change in Promoter s holding in the Company. The Promoters would continue to hold the same percentage of shares in the Company, pre and post the amalgamation of the Transferor Company with the Company.