In order to comply with the requirement of the Stock Exchange of providing a valuation report based on the financial statements not being older than 3 months from the date of filing with the Stock Exchange, the company has decided to adopt a revised valuation report. The revised valuation report dated 13th September, 2021 has been obtained by the Company in order to determine the revised swap ratio based on the Financials Statements as on 30th June 2021 (being not more than 3 months old). Accordingly, the swap ratio in the draft Scheme for Amalgamation has been amended based on the said valuation report. Based on the recommendations of the Audit Committee and the Committee of Independent Directors, the Board has considered and approved a Revised Scheme of Amalgamation (the Scheme) under Section 230 to 232 and other applicable provisions of the Companies Act, 2013 and the rules framed thereunder (the Act).
3.55 PM Sep 13th
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