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| Exchange Disseminated Time 28/01/2017 14:42:02 | Larsen & Toubro Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 28, 2017, has considered and approved a Scheme of Amalgamation between the Company and Spectrum Infotech Private Limited ((“SIPL”) a Wholly-owned Subsidiary of the Company) and their respective Shareholders and Creditors under Section 230 to 232 of the Companies Act, 2013. (“the Scheme”).
The scheme is subject to necessary statutory and regulatory approvals including the approvals of the National Company Law Tribunal, the Stock Exchanges, SEBI, the respective Shareholders and Lenders/Creditors of each of the companies involved in the scheme.
It may be noted that the proposed Scheme has been reviewed and recommended for approval by the Audit Committee to the Board of the Company at its meeting held on January 27, 2017.
The Scheme will be filed with the Stock Exchanges as per the applicable provisions of Regulation 37 of SEBI LODR. |
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