Asian Hotels (East) has informed that at the Board meeting of even date, the Board, upon considering the recommendation of the Audit Committee, has considered and approved a Scheme of Arrangement for the demerger of the Companys [Demerged Company] division namely Investments including Investment in Hotel (South) [Investment Division] into Robust Hotels, a wholly owned subsidiary of the Company [RHPL/Resulting Company] in terms of Section 230-232, other applicable provisions of the Companies Act, 2013 and the Rules made thereunder as a going concern in compliance with Section 2(19AA) of Income Tax Act, 1961 [Scheme]. Appointed Date of the proposed Scheme is business opening hours on 1st April, 2020.
The above information is a part of company’s filings submitted to BSE.
