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Indrayani Biotech informs about outcome of board meeting

03 Dec 2019 Evaluate

Indrayani Biotech has informed that at the meeting of the Board of Directors held today (03/12/2019) the Directors discussed about the proposed Scheme of Arrangement of Indrayani Biotech (Transferee Company) with Helios Solutions (Transferor Company 1) and A-diet Express Hospitality Service (Transferor Company 2). The company had filed necessary document related to Regulation 37 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, with the Exchange. On 20 November, 2019 the Company received an observation letter from the Exchange stating no adverse observation for the proposed Scheme of Arrangement. In continuation to that, the Board of Directors decided to file necessary Application with National Company Law Tribunal (NCLT), Chennai. The draft Application has been presented to the Board and the same has been approved. The Board has authorised Kasiraman Sayee Sundar to file the petition with the National Company Law Tribunal (NCLT), Chennai. Further, R. Kannan (Practicing Company Secretary) has been authorised to represent the Company before the National Company Law Tribunal (NCLT), Chennai. The Meeting commenced at 10:00 AM and concluded by 10:30 AM.

The above information is a part of company’s filings submitted to BSE.

Indrayani Biotech Share Price

11.57 0.42 (3.77%)
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