Warren Tea Limited has announced that the final order for its proposed Scheme of Amalgamation with Maple Hotels & Resorts Limited has been reserved for pronouncement by the Hon’ble National Company Law Tribunal (NCLT). This marks a crucial step forward in the amalgamation process, which is being undertaken under Sections 230 to 232 of the Companies Act, 2013. Further updates will be provided upon receipt of the official order copy.
Key Development in Amalgamation Process
Warren Tea Limited has provided an important update regarding its proposed Scheme of Amalgamation. The company informed stakeholders that the final order concerning the amalgamation with Maple Hotels & Resorts Limited has been reserved by the Hon’ble National Company Law Tribunal (NCLT) in Kolkata. This reservation is for formal pronouncement and signifies a critical juncture in the procedural progression of the scheme.
Scheme of Amalgamation Details
The proposed Scheme of Amalgamation involves Warren Tea Limited merging with and into Maple Hotels & Resorts Limited, along with their respective shareholders and creditors. This corporate restructuring is being conducted in accordance with Sections 230 to 232 and other applicable provisions of the Companies Act, 2013. The outcome of the NCLT’s decision will have a significant impact on the combined entity’s structure and operations.
Next Steps and Disclosure
Warren Tea Limited has stated that it will promptly notify the stock exchanges and update the company’s website once the official copy of the NCLT’s order is received. Investors and stakeholders are advised to await further official communication for complete details regarding the final pronouncement and its implications.
Source: BSE
