NCLT Mumbai approves a composite scheme of arrangement between Sarda Dairy & Food Products Ltd and Chhatisgarh Investments Ltd.
The scheme involves a capital reduction of 5.61 crore Sarda Dairy shares and a demerger of its dairy business into Chhatisgarh Investments.
Shareholders will receive 25 redeemable preference shares of Chhatisgarh Investments for every 100 Sarda Dairy equity shares held.
The appointed date for the scheme is set as 31 March 2025, with no objections from creditors or regulatory authorities.