Rane Engine Valve Limited (REVL) and Rane Brake Lining Limited (RBL) have announced a merger with Rane (Madras) Limited (RML). The National Company Law Tribunal (NCLT), Chennai Bench, has issued an order for separate meetings of the equity shareholders and unsecured creditors of REVL, RBL, and RML.
The meetings are scheduled to be held on November 20 and 21, 2024, respectively, at 9:30 AM IST on both days. These meetings will be conducted via video conferencing or other audio-visual means to facilitate the vote on the proposed scheme of amalgamation.
The aim of the amalgamation is to consolidate the businesses and streamline operations under Rane (Madras) Limited. All relevant details, including the procedure for attending and voting in the meetings, are outlined in the NCLT’s order, which is available on their official website. The merger is expected to bring operational synergies and enhance value for stakeholders across the involved companies.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
