Allsec Technologies has informed that after considering the recommendation and report of the Audit Committee and the Committee of Independent Directors, the Board of Directors of Allsec Technologies, at its meeting held on June 22, 2022, has approved the Scheme of Amalgamation of Allsec Technologies Limited (‘Transferor Company’ or ‘the Company’) with Quess Corp (‘Transferee Company’) and their respective Shareholders and Creditors (hereinafter referred to as the Scheme) under Sections 230-232 and other applicable provisions of the Companies Act, 2013 (Act), and the rules and/ or regulations made thereunder. The Scheme is subject to receipt of requisite approvals from Securities and Exchange Board of India (SEBI), National Company Law Tribunal, Bengaluru Bench and Chennai Bench (Tribunal), BSE and National Stock Exchange of India (NSE) (Stock Exchanges) and other statutory and regulatory authorities, and the respective shareholders and creditors, under applicable law. As per the Scheme, the appointed date for the amalgamation shall be April 01, 2022 or such other date as may be fixed or approved by the Tribunal or any other appropriate authority and the effective date shall be such date as defined in the Scheme.
The above information is a part of company’s filings submitted to BSE.