ATUL AUTO LTD.-$ - 531795 - Announcement under Regulation 30 (LODR)-Updates on Acquisition
This is continuation of our letter dated October 30, 2021 informing the Stock Exchanges about decision of the Board of Directors of Atul Auto Limited to acquire equity shares of Khushbu Auto Finance Limited whereby making it wholly owned subsidiary subject to approval of Reserve Bank of India ('RBI'). Further, we would like to inform you that RBI has given its approval to the said acquisition for transfer of control/ shareholding in Khushbu Auto Finance Limited in terms of Para 3 of Non-Banking Financial Companies (Approval of Acquisition or Transfer of Control) Directions, 2015. The RBI approval letter dated July 29, 2021 is attached herewith for your ready reference. The Company is causing to publish thirty days prior public notice about the change in control/shareholding in newspaper as required by the applicable RBI Circular. The Company will further inform the Stock Exchange once the acquisition will be done post-completion of thirty days of newspaper advertisement.30-07-2021