Latest news with #SchemeofArrangement
Economic Times
6 days ago
- Business
- Economic Times
Suzlon Energy shares in focus after NSE, BSE issue 'no adverse observations' for merger with subsidiary
Suzlon Energy shares will be in focus on Monday after the company received 'no adverse observations' letters from the National Stock Exchange (NSE) and BSE for its proposed merger with wholly-owned subsidiary Suzlon Global Services Limited. ADVERTISEMENT In a regulatory filing, Suzlon informed that the observations were received from the exchanges on Thursday, July 3, clearing a key hurdle in its ongoing corporate restructuring plan. Under the 'Scheme of Arrangement', which involves the company, its shareholders, and creditors, Suzlon Energy will undertake the reduction and reorganisation of reserves. Also Read: Street favourite! 10 BSE large-cap stocks analysts expect to rally up to 70% Suzlon plans to adjust its accumulated losses by reducing and reorganising reserves, specifically transferring the credit balance in the General Reserve to Retained means Suzlon will use existing reserves (built up during profitable years) to wipe out past losses reflected in the Retained Earnings account. ADVERTISEMENT The company said that it will result in a cleaner balance sheet, which can improve the company's ability to pay dividends and attract investors. Also Read: TCS, HCLTech among 10 stocks that have paid dividends over 40 times since 2011 1) The company must comply with detailed disclosures, including how reserves will be adjusted, the historical build-up of losses and reserves, rationale for the scheme, impact on shareholders, cost-benefit analysis, and updated balance sheets pre- and post-scheme. ADVERTISEMENT 2) The company has to ensure that additional information, if any, submitted by the company after filing the Scheme with the stock exchange is displayed on the websites of Suzlon and the exchanges.3) The company has to ensure entities involved in the proposed scheme will not make any changes in the draft scheme subsequent to filing the draft scheme with SEBI by Stock Exchange(s), except those mandated by the regulators/ authorities/tribunal. ADVERTISEMENT 4) The company should ensure compliance with the Sebi circulars issued from time to time.5) The company should ensure that the financials in the scheme considered are not more than 6 months old. Also Read: 10 Nifty smallcap stocks analysts expect to rally up to 72% (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
04-07-2025
- Business
- Time of India
Suzlon Energy gets ‘no adverse observations' from NSE, BSE for merger with subsidiary
Suzlon Energy has received 'no adverse observations' letters from the National Stock Exchange and BSE for a corporate restructuring plan where its wholly-owned subsidiary Suzlon Global Services Limited will be merged with the parent entity. Suzlon in a filing to the exchanges today informed about receiving the letters from the NSE and BSE on Thursday, July 3. Under the 'Scheme of Arrangement', which involves the company, its shareholders, and creditors, Suzlon Energy will undertake the reduction and reorganisation of reserves. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Remember Him? Sit Down Before You See What He Looks Like Now 33 Bridges Undo Suzlon plans to adjust its accumulated losses by reducing and reorganising reserves, specifically transferring the credit balance in the General Reserve to Retained Earnings. This means Suzlon will use existing reserves (built up during profitable years) to wipe out past losses reflected in the Retained Earnings account. The company said that it will result in a cleaner balance sheet, which can improve the company's ability to pay dividends and attract investors. Live Events The following are the compliance with legal requirements: 1) The company must comply with detailed disclosures, including how reserves will be adjusted, the historical build-up of losses and reserves, rationale for the scheme, impact on shareholders, cost-benefit analysis, and updated balance sheets pre- and post-scheme. 2) The company has to ensure that additional information, if any, submitted by the company after filing the Scheme with the stock exchange is displayed on the websites of Suzlon and the exchanges. 3) The company has to ensure entities involved in the proposed scheme will not make any changes in the draft scheme subsequent to filing the draft scheme with SEBI by Stock Exchange(s), except those mandated by the regulators/ authorities/tribunal. 4) The company should ensure compliance with the Sebi circulars issued from time to time. 5) The company should ensure that the financials in the scheme considered are not more than 6 months old. Also read: Vedanta's investor dilemma: Dividend king, pauper returns; time to buy or say bye? Suzlon shares today ended at Rs 65.65 on the NSE, up by Rs 0.38 or 0.58% over the Thursday closing price.
Economic Times
04-07-2025
- Business
- Economic Times
Suzlon Energy gets ‘no adverse observations' from NSE, BSE for merger with subsidiary
Suzlon Energy has received 'no adverse observations' letters from the National Stock Exchange and BSE for a corporate restructuring plan where its wholly-owned subsidiary Suzlon Global Services Limited will be merged with the parent entity. Suzlon in a filing to the exchanges today informed about receiving the letters from the NSE and BSE on Thursday, July 3. ADVERTISEMENT Under the 'Scheme of Arrangement', which involves the company, its shareholders, and creditors, Suzlon Energy will undertake the reduction and reorganisation of reserves. Suzlon plans to adjust its accumulated losses by reducing and reorganising reserves, specifically transferring the credit balance in the General Reserve to Retained Earnings. This means Suzlon will use existing reserves (built up during profitable years) to wipe out past losses reflected in the Retained Earnings company said that it will result in a cleaner balance sheet, which can improve the company's ability to pay dividends and attract investors. The following are the compliance with legal requirements: ADVERTISEMENT 1) The company must comply with detailed disclosures, including how reserves will be adjusted, the historical build-up of losses and reserves, rationale for the scheme, impact on shareholders, cost-benefit analysis, and updated balance sheets pre- and post-scheme.2) The company has to ensure that additional information, if any, submitted by the company after filing the Scheme with the stock exchange is displayed on the websites of Suzlon and the exchanges. ADVERTISEMENT 3) The company has to ensure entities involved in the proposed scheme will not make any changes in the draft scheme subsequent to filing the draft scheme with SEBI by Stock Exchange(s), except those mandated by the regulators/ authorities/tribunal.4) The company should ensure compliance with the Sebi circulars issued from time to time. ADVERTISEMENT 5) The company should ensure that the financials in the scheme considered are not more than 6 months old. Also read: Vedanta's investor dilemma: Dividend king, pauper returns; time to buy or say bye? ADVERTISEMENT Suzlon shares today ended at Rs 65.65 on the NSE, up by Rs 0.38 or 0.58% over the Thursday closing price. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Business Wire
30-06-2025
- Business
- Business Wire
Penguin Solutions Completes Redomiciliation to the United States
MILPITAS, Calif.--(BUSINESS WIRE)-- Penguin Solutions, Inc., a Delaware corporation (Nasdaq: PENG) ('Penguin Solutions' or the 'Company') today announced the completion of the redomiciliation process to change the parent company of the Penguin Solutions group of companies from a Cayman Islands company to a Delaware corporation. The redomiciliation was accomplished by way of a Cayman Islands Scheme of Arrangement and was approved by an overwhelming majority of Penguin Solutions' shareholders at a Scheme Meeting held on June 16, 2025. The Grand Court of the Cayman Islands sanctioned the Scheme on June 25, 2025, and on the same date, the Scheme of Arrangement became effective in accordance with its terms upon the delivery of the Sanction Order to the Cayman Islands Registrar of Companies. The redomiciliation was completed following the close of trading on June 30, 2025. At completion, all issued ordinary shares and preferred shares of Penguin Solutions, Inc., a Cayman Islands exempted company ('Penguin Solutions Cayman'), were exchanged on a one-for-one basis for newly issued shares of common stock and shares of preferred stock, respectively, of the Company. The former shareholders of Penguin Solutions Cayman are now the stockholders of the Company, which is the parent company of the Penguin Solutions group of companies. The common stock of the Company will begin trading on the Nasdaq Global Select Market on July 1, 2025, with its trading symbol of 'PENG' remaining unchanged. The Company does not anticipate any material impact to its employees or its day-to-day business as a result of the completion of the redomiciliation. For more information on the redomiciliation of the Company, please refer to a copy of the Sanction Order issued by the Grand Court of the Cayman Islands which approved the redomiciliation, available under the Governance section of our Investor Relations website. About Penguin Solutions The most exciting technological advancements are also the most challenging for companies to adopt. At Penguin Solutions, we support our customers in achieving their ambitions across our Advanced Computing, Integrated Memory, and Optimized LED business segments. With our expert skills, experience, and partnerships, we turn our customers' most complex challenges into compelling opportunities. For more information, visit
Business Standard
20-06-2025
- Business
- Business Standard
Oriental Carbon & Chemicals changes Name
To AG Ventures Limited Oriental Carbon & Chemicals pursuant to the Scheme of Arrangement between Oriental Carbon and Chemicals Limited (Demerged Company or the Company) and OCCL Limited (Resulting Company) and approval from the Ministry of Corporate Affairs (MCA) vide its order dated June 20, 2025 has changed its name to AG Ventures Limited.
