Deepak Fertilisers & Petrochemicals Corp. announced on Monday that the company received National Company Law Tribunal approval for a scheme of arrangement between Mahahdhan AgriTech Ltd., Deepak Mining Solutions Ltd. and Mahadhan Farm Technologies Ltd.
The scheme shall become effective upon filing a certified copy of the order with the Registrar of Companies by the aforesaid respective subsidiaries of the company, according to an exchange filing.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
Consequent to the scheme being effective, the technical ammonium nitrate business of MAL will demerge into DMSL, a wholly owned subsidiary of the company. For every fully paid-up equity share of face value Rs 10 each held in MAL, one fully paid-up equity share of face value Rs 10 each of DMSL will be issued and allotted to the company.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
According to the scheme, MFTPL, being the transferor company, will be dissolved and cease to be a subsidiary of MAL. Since MFTPL is a wholly owned subsidiary of MAL, no shares will be issued or allotted upon the amalgamation, and all shares of MFTPL held by MAL will be cancelled, as per the exchange filing.
Deepak Fertilisers and Petrochemicals Corp. has posted a 16% decline in consolidated net profit to Rs 214.79 crore for the quarter-ended March 2024.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
