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Aequs Limited informed the Exchange that the Regional Director, MCA, has rejected its proposed Scheme of Amalgamation with three wholly-owned subsidiaries due to non-compliance.
Aequs Limited's step-down subsidiary, Aequs Toys HongKong Private Limited, has been voluntarily wound up and dissolved. The entity was not material to the company.
The Company's shareholders approved the Scheme of Amalgamation of its wholly-owned subsidiaries into the Company via a postal ballot.
Aequs Limited's subsidiary invested ₹4 Crore in step-down subsidiary Koppal Toys Molding COE Private Limited. The capital supports working capital needs with no change in ownership.
Aequs Limited invested ₹9.30 Crore in its cookware joint venture via a rights issue. The capital maintains its 50% stake and supports operational requirements.
Aequs Limited invested ₹9.23 Crore in its wholly owned subsidiary, Aequs Engineered Plastics Private Limited, via a rights issue. The capital will fund working capital and operational requirements.
Aequs Limited's board approved the amalgamation of its three wholly-owned subsidiaries, ASMIPL, AEPPL, and AFCPPL, into itself. The merger aims to streamline management and achieve operational synergies. As the transferor companies are 100% owned, no new shares will be issued. The restructuring follows the company's stated strategy in its Red Herring Prospectus.
Aequs Limited's board approved the amalgamation of its three wholly owned subsidiaries—ASMIPL, AEPPL, and AFCPPL—with itself. The merger aims to streamline group structure, achieve operational synergies, and consolidate financial resources. No new shares will be issued as the transferor companies are 100% owned by Aequs Limited.