The Board of Amara Raja Batteries Limited, has approved a Scheme of Arrangement amongst Mangal Industries Limited and Amara Raja Batteries Limited and their respective shareholders and creditors under applicable provisions of the Companies Act. The Scheme, inter-alia, provides for demerger of Plastic Component for Battery Business from the Demerged Company to the Resulting Company. The Company has entered into an Implementation Agreement dated 26th September 2022 with MIL and its shareholder pertaining to the Demerged Undertaking. The Scheme is subject to the fulfilment of certain conditions including receipt of approval of shareholders (majority of public shareholders) and creditors of the Company, approval of other regulatory authorities including those of the National Stock Exchange of India Limited, BSE Limited, Securities and Exchange Board of India and the jurisdictional National Company Law Tribunal.
JSA M&A Team comprised Lead Partner – Aarthi Sivanandh, Senior Associate – Bhargavi Ravi, and Of-Counsel – Mohammed Abid Hussain.
JSA Real Estate Team comprised Partner – Malini Raju and Associate – Deepika Nagaraja.
JSA Due Diligence Team comprised Senior Associate – Harish Choudhary and Minna Joshi and Associate – Anjali Nair & Bhavini Mohan.
