3M India has informed that the Board of Directors of the Company and 3M Electro & Communication India (3M E&C) at their Meetings held on 13 November 2019 had approved the Scheme of Amalgamation of 3M E&C (a wholly owned subsidiary) with the Company under Section 233 of the Companies Act. 2013. The Appointed Date fixed under the Scheme was 1 April 2019. The Company sought approvals from Members and Creditors under Section 233(1)(b) of the Companies Act, 2013 by Special Resolutions through Postal Ballot notice dated 21 January 2020. The results of the voting by Postal Ballot were announced on February 28, 2020. Based on the opinion from the outside Legal Counsel, the Company had made an application during the month of October 2020 with the jurisdictional Regional Director of the Ministry of Corporate Affairs seeking approval of the Scheme. Additional information sought by the Regional Director were also submitted.
The above information is a part of company’s filings submitted to BSE.
