Vikas Ecotech has informed that the company has received approval from the National Company Law Tribunal (NCLT), Principle Bench, New Delhi via. Order dated 31st October, 2018 for its proposed scheme of arrangement for the Demerger of its High-volume ‘Trading and Recycled Compounds Division’ and its subsequent amalgamation with Vikas Multicorp Limited (‘VML’). The copy of Order is attached herewith. As a result of this scheme, the resultant company, Vikas Multicorp will be listed on the stock exchanges and the shareholders of Vikas Ecotech will receive one equity share of VML for every one equity share held in VEL. The scheme of arrangement effective from 1st April, 2017 and will come into effect on filing of certified copy of NCLT order with the Registrar of Companies NCT of Delhi and Haryana. As the NCLT approval has come, the Company is taking necessary steps to implement the same and for listing of VML shares with BSE & NSE and will endeavor to list VML shares on the stock exchanges at the earliest.
The above information is a part of company’s filings submitted to BSE.
