Zuari Global’s wholly owned subsidiary -- Zuari Finserv has received approval for Scheme of Arrangement between Zuari Commodity Trading and Zuari Finserv and their respective Shareholders and Creditors. The Board of Directors of Zuari Finserv has approved the same.
The scheme involves the merger of entire undertaking of Zuari Commodity Trading and vesting thereof in Zuari Finserv. The dissolution of Zuari Commodity Trading without process of winding-up and re-organisation of Authorised Share Capital of Zuari Finserv and cancelation of entire issued, subscribed and paid up capital of Zuari Commodity Trading.
Zuari Global, erstwhile Zuari Industries, has been the principal promoter entity for the Zuari Group of Companies, with forays into fertilizer, seeds, engineering, lifestyle industries and services.