Nestle India Ltd - 500790 - Announcement under Regulation 30 (LODR)-Scheme of Arrangement
Nestle India Limited has intimated that the Board of Directors, in its meeting held today, has considered and approved a Scheme of Arrangement between the Company and its Members under Section 230 of the Companies Act, 2013, as amended (the 'Act') read with other applicable provisions of the Act and rules thereunder (the 'Scheme'), which envisages the transfer of the entire balance of Rs. 8,374.3 Million standing to the credit of the General Reserves to Retained Earnings. The Scheme, under the relevant Section(s) of the Act, is subject to the approval of the shareholders and such other class of persons as directed by the Hon'ble NCLT Delhi Bench, sanction of the Hon'ble NCLT Delhi Bench and such other approvals as are prescribed (including clearances/approval/comments from the BSE Limited ('BSE') (and comments from the Securities and Exchange Board of India (if any) via BSE).28-07-2021
