By: ICN Bureau
Last updated : January 10, 2023 10:33 pm
The Board of Directors of the company has approved the Scheme of Amalgamation between Zuari Sugar and Power Limited with Zuari Industries Limited
Zuari Industries Limited (ZIL) incorporated a company in the name of Zuari Envien Bioenergy Private Limited (ZEBPL) as its wholly owned subsidiary which shall become the joint venture entity between ZIL and Envien International Limited (Envien), subsequently.
The Board of Directors of the company has accorded its approval for execution of Shareholders' Agreement, Securities Subscription Agreement and other ancillary agreements (if required) with Envien and ZEBPL, which would set out the terms and conditions pursuant to which ZIL and Envien will infuse their respective contributions for carrying out the aforesaid joint venture.
The Board of Directors of the company has approved the Scheme of Amalgamation between Zuari Sugar and Power Limited, wholly owned subsidiary of the company (Transferor Company / ZSPL) with Zuari Industries Limited (Transferee Company / ZIL) under Section 233 of Companies Act, 2013 and other applicable provisions and allied rules made thereunder, through fast track route. The appointed date as per the Scheme of Amalgamation is 1 April 2022.