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As per Composite Scheme of Arrangement sanctioned by the Hon’ble National Company Law Tribunal, Ahmedabad, between, The Sintex Industries Limited, Sintex Plastics Technology Limited, Sintex – BAPL Limited, Sintex Infra Projects Limited (Sintex Prefab and Infra Limited): -
A) Upon the coming into effect of the aforesaid Scheme and in consideration of the demerger of Custom Moulding Undertaking of Sintex Industries Limited into Sintex- BAPL Limited pursuant to this Scheme:
Sintex Plastics Technology Limited shall issue and allot equity shares at par on a proportionate basis to the shareholders of Sintex Industries Ltd in the following proportion :
“01 (ONE) equity share of Sintex Plastics Technology Limited shall be issued and allotted for every 02 (TWO) fully paid up equity shares each held in Sintex Industries Ltd.”
B) Upon the coming into effect of the transfer and vesting of the Prefab undertaking of Sintex Industries Limited in Sintex Prefab and Infra Limited
Sintex Plastics Technology Limited shall issue and allot equity shares at par on a proportionate basis to the shareholders of Sintex Industries Ltd in the following proportion :
“01 (ONE) equity share of Sintex Plastics Technology Limited shall be issued and allotted for every 02 (TWO) fully paid up equity shares each held in Sintex Industries Ltd.”
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