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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.