Indo Count Industries has informed the exchange that pursuant to the Scheme of Amalgamation (by way of merger by absorption) of Pranavaditya Spinning Mills (‘PSML’) with Indo Count Industries (‘the Company’) approved by the Hon’ble National Company Law Tribunal, Mumbai Bench (‘NCLT’) vide its Order dated October 3, 2022, the authorised share capital of PSML/ Transferor Company is consolidated and merged with the authorised share capital of the Company. Thus, the Authorised share capital of the Company is increased from Rs 60,00,00,000 (comprising of 27,50,00,000 equity shares of Rs 2 each and 50,00,000 preference shares of Rs 10 each) to Rs 79,27,00,000 (comprising of 37,13,50,000 equity shares of Rs 2 each and 50,00,000 preference shares of Rs 10 each). Accordingly, the Clause V of Memorandum of Association of the Company is altered as under: V. Authorised Share Capital of the Company is Rs 79,27,00,000 divided into 37,13,50,000 equity shares of Rs 2 each and 50,00,000 preference shares of Rs 10 each. There are no changes in the Articles of Association of the Company.
The above information is a part of company’s filings submitted to BSE.
