Legal17 Aug 2024, 10:28 pm
CIAN Agro Industries & Infrastructure Ltd Acquires Varron Aluminiumm Private Limited, Now a Wholly Owned Subsidiary
AI Summary
CIAN Agro Industries & Infrastructure Ltd has announced that it has acquired Varron Aluminiumm Private Limited through the Insolvency and Bankruptcy Code, as approved by the Hon'ble National Company Law Tribunal, Mumbai. The acquisition was completed on 27.03.2023, making Varron Aluminiumm a Wholly Owned Subsidiary of CIAN Agro Industries & Infrastructure Ltd. The new management has also successfully changed the company's status from 'INACTIVE' to 'ACTIVE' and filed the necessary forms and intimations. The acquisition is expected to bring significant benefits to both companies.
Key Highlights
- CIAN Agro Industries & Infrastructure Ltd has acquired Varron Aluminiumm Private Limited through the Insolvency and Bankruptcy Code.
- Varron Aluminiumm has become a Wholly Owned Subsidiary of CIAN Agro Industries & Infrastructure Ltd.
- The new management has changed the company's status from 'INACTIVE' to 'ACTIVE'.
- Necessary forms and intimations have been filed by the new management.
- The acquisition is expected to bring significant benefits to both companies.