Axel Polymers Ltd - 513642 - Outcome of Board Meeting
Pursuant to the Reg. 30 of the SEBI (LODR), we hereby inform you that the Board of Directors (''Board'') of the Company at its meeting held on August 21,2019 after recommendation of the Audit Committee of the Company, have considered and approved the draft Scheme of Amalgamation of Dhara Petrochemicals Private Ltd. with Axel Polymers Ltd. and their respective shareholders and creditors ('the Scheme') pursuant to Sec. 230 to 232 and other applicable provisions, if any, of the Companies Act, 2013 read with relevant rules framed thereunder. The Scheme is subject to the requisite approval of the SEBI, the BSE Ltd., shareholders and creditors of DPPL and APL and the sanction of the NCLT - Ahmedabad Bench and such other statutory and regulatory authority(ies) as may be applicable. The Scheme shall be effective from April 1, 2019 or such other date directed by or stipulated by the NCLT ("Appointed Date"). The meeting of the Board of Directors commenced at 10.00 AM and concluded at 2.20 PM21-08-2019