Notifications, Scrip Scan

Daily Notifications as on 6th August 2020

Scrip Sanctuaries for protection from the wildlife in this jungle of Indian Equities

Daily Notifications as on 6th August 2020

1. Scrip code : 500189
Subject : Approval Of The Scheme Of Arrangement Between Indusind Media & Communications Limited And NXT DIGITAL LIMITED And Their Respective Shareholders, By National Company Law Tribunal.
Further to our letter dated July 15, 2020, towards intimation of the final hearing scheduled on July 28, 2020, towards the scheme of arrangement between IndusInd Media & Communications Limited and NXTDIGITAL LIMITED and their respective shareholders by which Media and Communication undertaking of IMCL will be demerged into the Company. In this regard, we would like to inform you that the National Company Law Tribunal, Mumbai Bench has approved the aforesaid scheme today, August 6, 2020. On receipt of a copy of the final order of the Hon’ble NCLT, as soon as received, we will submit the same to the exchanges. Consequent to this order and filing of the order with the Ministry of Corporate Affairs all listing formalities are expected to be completed within the month of August 2020. The intimation of the date of the Board meeting to declare the restated accounts for March 31, 2020 consequent to merger and Q 1 results on the merged basis in August 2020 will be communicated separately.

2. Scrip code : 500469
Name : Federal Bank Ltd.
Subject : Updates On Acquisition Of Shares Of IDBI Federal Life Insurance Co Ltd
Updates on Acquisition of shares of IDBI Federal Life Insurance Co Ltd

3. Scrip code : 542351
Name : Gloster Ltd
Subject : Announcement under Regulation 30 (LODR)-Acquisition
Sub: Hand over of management and control of M/s. Fort Gloster Industries Ltd. (Corporate Debtor) to Gloster Limited (successful Resolution Applicant) In continuation to our letter dated 1st October 2019 where in we had intimated that National Company Law Tribunal (Kolkata Bench) CNCLT”), vide its order dated September 27,2019, has approved the resolution plan submitted by Gloster Limited (the Company) for acquisition of Fort Gloster Industries Limited under the Corporate Insolvency Resolution Process (”CIRF) of the Insolvency and Bankruptcy Code 2016 (IBC), please note that the Company has completed payment of Rs. 72 crore as envisaged in the Resolution Plan on 04.08.2020. Consequently the Monitoring Committee has today i.e. 05.08.2020 handed over the management and control of M/s. Fort Gloster Industries Ltd. (Corporate Debtor) to the Company. We request you to take the above on record.


Excerpts from Gaurav’s Blog

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Yes Bank ~ Has the RBI & MOF lost it !? SEBI really is a bystander here Controversial Lock In Clause 3 Sub Clause 8 (a) in the Scheme of Reconstruction  No wonder the Finance Minister Mrs Nirmala Sitharaman, while highlighting only selected points, even when asked for details of the Scheme,did not want to […] [...]