Softsol India has made a public announcement regarding the scheme of arrangement between Softsol India Limited (Parent Company or Demerged Company) and Covance Softsol Limited (Child Company or Resulting Company). This scheme of arrangement was approved by the Hon’ble National Company Law Tribunal (NCLT), Hyderabad Bench. For the purpose of this corporate action, Friday, October 11, 2024 has been fixed as the record date.
As per the scheme of arrangement, 1 equity share of Covance Softsol Limited will be issued for every 1 equity share of Softsol India Limited. This means that if you hold 100 shares of Softsol India Limited as of the record date, you will receive 100 shares of Covance Softsol Limited. The equity shares of Covance Softsol Limited will be listed on the Bombay Stock Exchange (BSE), subject to necessary regulatory approvals. You will be able to see the shares in your demat holding statement, and once the company is listed, they will appear in your portfolio.
What do you think about this order by the NCLT? Feel free to use this thread to discuss.