BIKAJI FOODS ; NCLT Approves Amalgamation of Bikaji Foods with Wholly-Owned Subsidiary VSPL
✅ Scheme Cleared: National Company Law Tribunal (NCLT) Jaipur bench approved the amalgamation of Vindhyawasini Sales Pvt Ltd (VSPL) into Bikaji Foods.
🔄 Internal Restructuring: VSPL was a wholly owned subsidiary — no share exchange involved; all shares of VSPL to be cancelled.
📅 Effective Date: Merger effective from April 1, 2024 (Appointed Date).
📦 Asset Transfer: All assets, licenses, liabilities, tax incentives, and pending legal proceedings of VSPL will transfer to Bikaji.
💰 Tax Implication: Bikaji will bear VSPL's outstanding tax demand of ₹63.14 lakh and any related penalties.
🧾 Operational Efficiency: Consolidation simplifies structure and may improve administrative and cost efficiencies.
Impact: ✅ Positive
Streamlines corporate structure and consolidates operations, with no dilution to shareholders; boosts long-term governance and efficiency.
✅ Scheme Cleared: National Company Law Tribunal (NCLT) Jaipur bench approved the amalgamation of Vindhyawasini Sales Pvt Ltd (VSPL) into Bikaji Foods.
🔄 Internal Restructuring: VSPL was a wholly owned subsidiary — no share exchange involved; all shares of VSPL to be cancelled.
📅 Effective Date: Merger effective from April 1, 2024 (Appointed Date).
📦 Asset Transfer: All assets, licenses, liabilities, tax incentives, and pending legal proceedings of VSPL will transfer to Bikaji.
💰 Tax Implication: Bikaji will bear VSPL's outstanding tax demand of ₹63.14 lakh and any related penalties.
🧾 Operational Efficiency: Consolidation simplifies structure and may improve administrative and cost efficiencies.
Impact: ✅ Positive
Streamlines corporate structure and consolidates operations, with no dilution to shareholders; boosts long-term governance and efficiency.
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