Fortune Financial Services (India) has informed about Unanimously approved Scheme of Arrangement between United Petro Finance Limited (‘UPFL’ or the ‘Demerged Company’) and Fortune Credit Capital Limited (‘FCCL or the Resulting Company’) and Fortune Financial Services (India) Limited (‘FFSIL or the Holding Company of the Resulting Company’) and their respective shareholders providing for the demerger of Lending Business (‘NBFC Business’) of UPFL to FCCL (Wholly Owned Subsidiary of FFSIL), and issue of equity shares of FFSIL to the shareholders of UPFL.
The above information is a part of company’s filings submitted to BSE.
