Pritika Auto Industries demerger: NCLT gives approval for value unlocking. Details here
Pritika Auto Industries demerger: The National Company Law Tribunal (NCLT) hs granted its approval to the schemd of arrangement between Pritika Industries Limited (PIL) and Pritika Auto Industries Limited (PAIL) for demerger of its automotive, tractor and engineering component business. The Chandigarh bench of the NCLT gave its nodd via order dated 4th December 2023.
The demerged company after the implementatioin of demerger would be Pritika Industries Limited. Also Read: Day trading guide for stock market today: Six stocks to buy or sell on Wednesday Pritika Auto Industries Limited informed Indian stock market exchanges about the NCLT approval citing, "We are pleased to inform you that the Chandigarh Bench of the Hon'ble National Company Law Tribunal (NCLT) vide its Order dated 4k December, 2023 has granted approval for the Scheme of Arrangement between Pritika Industries Limited (PIL) (Demerged Company) and Pritika Auto Industries Limited (PAIL) (the Resulting Company) and their respective shareholders ("Scheme"), under Sections 230 to 232 of Companies Act, 2013 for Demerger of the Demerged Undertaking ie.
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