Varroc Engineering Limited informed the exchanges Thursday that National Company Law Tribunal, Mumbai Bench (NCLT), has vide its Order dated November 2, 2020, approved the Scheme of Amalgamation of Varroc Lighting Systems (India) Private Limited with Varroc Engineering Limited and their respective Shareholders.
“The Petitioner Companies are in process of complying with the directions issued by the NCLT. The Scheme will become effective upon filing of the certified copy of the order with the Registrar of Companies, Pune and Registrar of Companies, Mumbai, respectively,” company said.
The company stock is however under selling pressure on Friday. Around 3.26 pm, Varroc Engineering was trading at Rs294 per piece down by Rs5.85 or 1.95% from its previous closing of Rs299.85 per piece on the BSE.
The scrip opened at Rs300.90 and has touched a high and low of Rs303 and Rs293.15 respectively.