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April 01, 2021
Acquisition expected to help ITC ramp up its spices portfolio under Aashirvaad brand Diversified conglomerate ITC Ltd said on Thursday that the scheme of amalgamation of Sunrise Foods has been sanctioned by NCLT, Kolkata Bench.
The scheme of amalgamation is effective April 1.
Two subsidiaries of Sunrise Hobbits International Foods and Sunrise Sheetgrah are now wholly-owned subsidiaries of ITC too.
“.the Scheme of amalgamation of Sunrise Foods Private Limited (Sunrise) with the Company (the Scheme) has been sanctioned by National Company Law Tribunal, Kolkata Bench. Certified copies of the order have been filed today with the Registrar of Companies, West Bengal, both by the Company and Sunrise,” it said in a notification to the bourses.
Read more about US Stocks end mixed on Monday on Business Standard. At the close of trade, the Dow Jones Industrial Average index rose 306.14 points, or 0.97%, to 31,802.44. The S&P500 index dropped 20.59 points, or 0.54%, to 3,821.35. The tech-heavy Nasdaq Composite Index fell 310.98 points, or 2.41%, to