1st April, 2020. Even if the composite scheme of arrangement is not a ‘demerger’ under the Income-tax Act, the scheme shall be approved and liable to appropriate tax implications Background vacation ownership and leisure hospitality. The composite scheme of arrangement (“Scheme”) amongst the Demerged/ Transferor Company, the Resulting Company and the Transferee Company and their respective shareholders and creditors is presented under Sections 230 to 232 read with Section 52 and Infibeam Avenues - Intimation Regarding Order Received From Hon''ble National Company Law Tribunal, Ahmedabad Bench, Sanctioning The Composite Scheme Of Arrangement The Composite Scheme of Arrangement is effective from the Appointed Date i.e. 1 April, 2020. This Composite Scheme of Arrangement is presented pursuant to the provisions of Sections 391 to 394 read with Sections 100 to 103 of the Companies Act, 1956 and/or Sections 230 to 232 of the Companies Act, 2013 read with Section 66 of the Companies Act, 2013, as may be applicable, and Section 52 of the 4) HSIL Demerger NCLT Final Order . 5) Proceedings and Results of Court Convened Meetings The composite scheme of arrangement is effective from the appointed date i.e. The record has been set as 11 December, 2020. In view of the abovementioned reasons, it is considered desirable and expedient to implement the proposed composite scheme of arrangement. Composite Scheme of Arrangement 2017 . The Recently, the Bombay High Court (the High Court) in the case of the ‘Composite Scheme of Arrangement and The Composite Scheme of Arrangement is effective from the Appointed Date i.e. April 1, 2020, and the record date has been set as December 11, 2020, the statement said. deals with demerger of Demerged Undertaking 1 COMPOSITE SCHEME OF ARRANGEMENT filed on September 28th, 2018. II. The record has been set as 11th December, 2020. Subsequent to the above date, there has been no change in the authorised, issued, subscribed and paid up share capital of the Transferor Company 1 till the date of approval of the Scheme by the Board of the Transferor Company 1. The Board of GMR Infrastructure announced the scheme together with other group companies — GMR Power Infra and GMR Power and Urban Infra. Composite Scheme of Arrangement is divided into the following parts: 1.1 Part I deals with the Definitions, Nature of Business and Capital Structure; 1.2 Part II deals with the Background and Rationale of the Scheme; 1.3 Part III deals with of the Demergeremerged D Undertaking into the ransferee T "The Composite Scheme of Arrangement will assist Infibeam Avenues to unlock value for its shareholders. This Composite Scheme (as defined hereinafter) is divided into the following parts: PART I deals with Definitions and Share Capital; PART . A Scheme of Arrangement helps a company in the restructure of its debt, and aids recovery from financial distress. 1) Communication for Shareholders . GMR Infrastructure on Thursday announced a composite ‘scheme of arrangement’ involving vertical split demerger of the ‘non-airport business’. It is not an insolvency process and is utilised under the Companies Act 2006 rather than insolvency legislation, but it must still be sanctioned by court process. As provided in the Composite Scheme of Arrangement, TCS has issued and allotted 15,06,983 equity shares of ₹1 each on October 7, 2013 to every public equity shareholder of e-Serve, except TCS, in the ratio of 13 equity shares of ₹1 each of TCS for every 4 equity shares of ₹10 each of e-Serve. PARTS OF THE SCHEME . 2) Somany Home Innovation Limited – Q1 Unaudited Financial Result (Post Demerger) 3) Intimation of Record Date for Composit Scheme of Arrangement . Click here for details.