Amalgamation of Surcot Trading Pvt. Ltd. and Umiya Real Estate Pvt. Ltd. with Stanrose Mafatalal Investments and Finance Limited:
As reported last year, the Company, has received a No-Objection Certificate from BSE Limited/SEBI on 14th November, 2018. In response to the application filed by the Company with the NCLT-Ahmedabad Bench for convening the meeting of the Equity Shareholders and waiving of meeting of creditors as there were none, NCLT-Ahmedabad Bench vide its order dated 16th January, 2019 had approved convening of the meeting of the equity Shareholders on 22nd February, 2019 and waiving the meeting of the Creditors.
During the year, the Company had obtained approval from the Shareholders in the NCLT Convened Meeting, Registrar of Companies, Regional Director and Official Liquidator. The Company had filed Petition with the NCLT-Ahmedabad Bench and after various hearings the NCLT – Ahmedabad Bench had approved the Scheme of Amalgamation on 17th July, 2019 subject to the approval of NCLT-Chennai Bench where the Transferor Company, Umiya Real Estate Private Limited had filed the petition.The Order from NCLT – Chennai Bench is awaited.