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India s Fallen Billionaires

India s Fallen Billionaires
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Britannia Industries update on scheme of arrangement

Britannia Industries announced that the National Company Law Tribunal, Kolkata Bench had on 7 May, 2021 approved the Scheme of Arrangement between Britannia Industries (Company) and its Members (Scheme). The Tribunal has issued a electronic copy of the order sanctioning the Scheme on 9 May 2021, to the company. The Scheme will be made effective by filing certified / digitally signed copy of the order of the Tribunal through e-form INC-28 with the Registrar of Companies, Kolkata. In terms of the Scheme, the Company will: - issue and allot by way of bonus, 1 fully paid-up debenture of the face value of Rs 29 each, by utilizing its general reserve, for every one fully paid-up equity share of face value of Rs 1 each; and

ITC-Sunrise Foods amalgamation gets NCLT nod - The Hindu BusinessLine

April 01, 2021 Acquisition expected to help ITC ramp up its spices portfolio under Aashirvaad brand Diversified conglomerate ITC Ltd said on Thursday that the scheme of amalgamation of Sunrise Foods has been sanctioned by NCLT, Kolkata Bench. The scheme of amalgamation is effective April 1. Two subsidiaries of Sunrise Hobbits International Foods and Sunrise Sheetgrah are now wholly-owned subsidiaries of ITC too. “.the Scheme of amalgamation of Sunrise Foods Private Limited (Sunrise) with the Company (the Scheme) has been sanctioned by National Company Law Tribunal, Kolkata Bench. Certified copies of the order have been filed today with the Registrar of Companies, West Bengal, both by the Company and Sunrise,” it said in a notification to the bourses.

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