Joint Venture2 Mar 2026, 05:58 pm
Shanti Educational Initiatives Approves Composite Scheme of Arrangement and Re-Appoints Independent Director
AI Summary
Shanti Educational Initiatives Ltd. has approved a Composite Scheme of Arrangement among Shanti Educational Initiatives Limited, Shanti Learning Initiatives Private Limited, and Grew Energy Private Limited. The scheme includes the transfer and vesting of the Transferred Undertaking from Shanti Educational Initiatives Limited to Shanti Learning Initiatives Private Limited on a slump sale basis. Additionally, the company has approved the re-appointment of Shri Susanta Kumar Panda as an Independent Director for a second term of five years.
Key Highlights
- Shanti Educational Initiatives has approved a Composite Scheme of Arrangement with Shanti Learning Initiatives Private Limited and Grew Energy Private Limited.
- The scheme involves the transfer and vesting of the Transferred Undertaking from Shanti Educational Initiatives Limited to Shanti Learning Initiatives Private Limited on a slump sale basis.
- The company has also approved the re-appointment of Shri Susanta Kumar Panda as an Independent Director for a second term of five years.
- The scheme is subject to necessary statutory and regulatory approvals, including approvals from BSE Limited, SEBI, NCLT, and CCI.
- Post-scheme implementation, the Amalgamated Company will apply for a listing of its equity shares over BSE Limited.