Knowledge Marine & Engineering Works Ltd Approves Scheme of Amalgamation of Two Wholly-Owned Subsidiaries
Knowledge Marine & Engineering Works Ltd announced that its Board of Directors approved a Scheme of Amalgamation of two wholly-owned subsidiaries, Indian Ports Dredging Private Limited and Knowledge Infra Port Private Limited, under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013. The proposed Scheme is subject to necessary statutory and regulatory approvals, including approval from the Hon’ble National Company Law Tribunal, Mumbai Bench and other regulatory authorities. The Scheme aims to transfer the entire assets and liabilities of the Transferor Companies to Knowledge Marine & Engineering Works Limited at their respective carrying values in the books of accounts of the Transferor Companies.
Key Highlights
- Knowledge Marine & Engineering Works Ltd Board approved the Scheme of Amalgamation of two wholly-owned subsidiaries, Indian Ports Dredging Private Limited and Knowledge Infra Port Private Limited.
- The Scheme is subject to necessary statutory and regulatory approvals, including approval from the Hon’ble National Company Law Tribunal, Mumbai Bench and other regulatory authorities.
- The Scheme aims to transfer the entire assets and liabilities of the Transferor Companies to Knowledge Marine & Engineering Works Limited.
- Upon the Scheme becoming effective, no equity shares of the Company shall be allotted in lieu or exchange of the holding of the Company in the Transferor Companies.
- The proposed Effective Date of the Scheme would be April 01, 2025 or such other date as may be fixed or approved by the Hon’ble NCLT, Mumbai Bench.
Price Impact
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