Common Contracts
1 similar Scheme of Arrangement contracts
SCHEME OF ARRANGEMENT BETWEENScheme of Arrangement • February 21st, 2022
The Board of Directors of BEL has, at its meeting held on May 25, 2021, approved a Scheme of Merger by Absorption of Starlite Lighting Limited (“SLL”) with BEL and their respective shareholders under Sections 230 to 232 and other applicable provisions of the Act (“SLL Merger Scheme”). BSE Limited and National Stock Exchange of India Limited have given their no observation letter dated October 22, 2021 and October 26, 2021 respectively and the SLL and BEL are in the process of filing an application with the Tribunal (as defined hereinafter) as on the date of this Scheme being approved by the Board. Pursuant to this on-going SLL Merger Scheme, BEL will be issuing shares to the shareholders of SLL (except to BEL itself) upon the said SLL Merger Scheme being effective (as per the share entitlement ratio provided in the said SLL Merger Scheme). As BEL and SLL are engaged in the same line of business i.e. ‘manufacturing and distribution of consumer products, lighting and allied products’, th
