Netflier Finco (Delisted) share news and announcements

Nov 2008

• 14 Nov · Corporate action

  Scheme of Amalgamation between Ashim Investment Company Limited (AICL) and its 4 wholly-owned subsidiaries namely Mayfair Finance Limited, Sidhi Vinayak Investment Limited, Terrestrial Finance Limited and Yashodhan Investment Limited and Netflier Finco Limited (NFL) and its 4 wholly-owned subsidiaries namely Hansdeep Investment Limited, Hidrive Finance Limited, Panchanan Investment Limited and Radial Finance Limited into and with Bengal & Assam Company Limited (BACL), has been sanctioned by the Hon'ble High Court of Delhi on August 22, 2008 and the certified true copy of the Order of the said High Court dated October 24, 2008 has been filed with the Registrar of Companies, NCT of Delhi & Haryana pursuant to Section 394(1) of the Companies Act, 1956 on November 11, 2008. Consequently the said Scheme has become effective on November 11, 2008 and operative with effect from the Appointed Date i..e April 01, 2007. With effect from the Appointed Date (i.e. April 01, 2007) and upon the Scheme becoming effective, all the assets and liabilities and the entire business of the Amalgamating Companies shall stand transferred to and vested in the Amalgamated Company without any further act or deed and each of the Amalgamating Companies shall stand dissolved without being wound up and accordingly Netflier Finco Limited together with its four wholly owned subsidiary companies stand dissolved and amalgamated into and with Bengal & Assam Company Limited. Further, pursuant to clause 5.10 of Part V of the said Scheme, the Directors of the Company at their meeting held on November 12, 008 has fixed the Record Date as November 28, 2008 for the following purpose: Upon the Scheme becoming effective, every equity shareholder of NFL shall, without any application, act or deed, be entitled to be issued 17 equity shares of the face value of Rs.10 each, credited as fully paid-up, of Bengal & Assam Company Limited (BACL), for every 73 fully paid equity shares of Rs.10 each held by such shareholder in NFL, as on the Record Date. A copy of the detailed note on the Scheme of Amalgamation shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). For more details click here.