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Hindustan Foods
BSE: 519126NSE: HNDFDSISIN: INE254N01018

16th-Mar-2020 14:04Source: BSE

Hindustan Foods - Announcement under Regulation 30 (LODR)-Scheme of Arrangement

Outcome of the Board of Directors Meeting - Pursuant to the Regulation 30 read with Part A of Schedule III and 33 of the SEBI (LODR) Regulations, 2015, we wish to inform you that, the Board of Directors of the Company at its meeting held on today, have:
Subject to approval of the Shareholders of the Company, considered and approved the Composite Scheme of Arrangement and Amalgamation under Sections 230-232 of the Companies Act 2013 ('Scheme') for (a) Demerger of Contract Manufacturing (Coimbatore) Business of Avalon Cosmetics Private Limited ('Demerged Company' or 'ACPL') into Hindustan Foods Limited ('Resulting Company' or the 'Transferee Company'); (b) amalgamation of ATC Beverages Private Limited ('Transferor Company' or 'ABPL') with Hindustan Foods Limited ('Resulting Company' or the 'Transferee Company'), subject to other approvals as required. The Scheme is subject to necessary statutory and regulatory approvals including the approval of National Company Law Tribunal.

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