NOTICE is hereby given that the Board of Directors of the Company at their meeting held today i.e. 26th May, 2022 has fixed 7th June, 2022 as 'Record Date' for the purpose of allotment of Shares by Gallantt Metal Limited to the shareholders of Gallantt Ispat Limited upon its amalgamation with Gallantt Metal Limited as per Scheme of Amalgamation and Slump Sale approved by Hon'ble National Company Law Tribunal, Kolkata and New Delhi Bench vide their respective Orders dated September 22, 2021 and May 20, 2022 respectively.
In connection with the Scheme of Amalgamation ('The scheme') of Gallantt Ispat Limited (GIL), AAR Commercial Company Limited (AAR), Hipoline Commerce Private Limited (Hipoline), Lexi Exports Private Limited (Lexi) and Richie Credit and Finance Private Limited (Richie) with Gallantt Metal Limited (GML) and slump sale of power plant undertaking of GIL to GML (the 'Scheme') under the provisions of Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 read with the Rules framed thereunder, the order was pronounced by the Hon'ble National Company Law Tribunal, New Delhi Bench on May 20, 2022 approving the said Scheme of Amalgamation and Slump Sale and Company has received the copy of the abovementioned order on May 24, 2022 from the Advocates of the Company and the same is enclosed herewith.
GALLANTT ISPAT LTD.has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 26/05/2022 ,inter alia, to consider and approve 1. Audited Financial Results of the Company for the quarter and year ended 31st March, 2022. 2. Audited Annual Accounts and notes thereon for the Financial Year ended 31st March, 2022. Note: Hon'ble NCLT, New Delhi Bench has pronounced the order for approval of the Scheme of Amalgamation of Gallantt Ispat Limited (GIL), AAR Commercial Company Limited (AAR), Hipoline Commerce Private Limited (HIPOLINE), Lexi Exports Private Limited (LEXI) and Richie Credit & Finance Private Limited (RICHIE) with Gallantt Metal Limited (GML) and Slump Sale of power plant undertaking of GIL to GML. If certified copy of the said Order is received by the Company and Form INC-28 is filed with Registrar of Companies before the date of this Board Meeting, Company shall not consider and approve financial results of the Company and in place Transferee Company, Gallantt Metal Limited shall submit amalgamated financial results to the Stock Exchanges.
This is to inform you that hearing on the Scheme at Honorable National Company Law Tribunal, New Delhi (the 'NCLT') completed on May 09, 2022. The matter has been heard and concluded by the NCLT and order approving the Scheme has been reserved by the NCLT. Final order of the NCLT shall be pronounced shortly. This is for your record and update.
Format of Initial Disclosure to be made by an entity identified as a Large Corporate. Sr. No. Particulars Details 1Name of CompayGALLANTT ISPAT LTD. 2CINL27109DL2005PLC350523 3 Outstanding borrowing of company as on 31st March / 31st December, as applicable (in Rs cr) 0.00 4Highest Credit Rating during the previous FY A- 4aName of the Credit Rating Agency issuing the Credit Rating mentioned in (4)BRICKWORK RATINGS INDIA PRIVATE LIMITED 5Name of Stock Exchange# in which the fine shall be paid, in case of shortfall in the required borrowing under the frameworkBSE We confirm that we are a Large Corporate as per the applicability criteria given under the SEBI circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018. No Name of the Company Secretary: Nitesh Kumar Designation: Company Secretary Compliance Officer EmailId: firstname.lastname@example.org Name of the Chief Financial Officer: Amit Jalan Designation: Chief Financial Officer EmailId: email@example.com Date: 29/04/2022 Note: In terms para of 3.2(ii) of the circular, beginning F.Y 2022, in the event of shortfall in the mandatory borrowing through debt securities, a fine of 0.2% of the shortfall shall be levied by Stock Exchanges at the end of the two-year block period. Therefore, an entity identified as LC shall provide, in its initial disclosure for a financial year, the name of Stock Exchange to which it would pay the fine in case of shortfall in the mandatory borrowing through debt markets.