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25 May, 2018 22:11 IST
Ducon gets final NCLT order approving ongoing merger process
Source: IRIS | 17 Apr, 2018, 04.16PM
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Ducon Infratechnologies, a growing diversified technology company, today announced that it has received the final order from National Company Law Tribunal (NCLT) approving the scheme of arrangement concerning the amalgamation between the listed entity, Ducon Infratechnologies and the private entity Ducon Technologies India (DTIPL).

With this approval, the company is now on track to finish the pending activities pertaining to the scheme of arrangement. Consequent to this, the merged entity will start reporting its financial and operating performance from FY 2018.

Aron Govil, Chairman of the company, said, ''The final nod from NCLT is a very positive development for the Company. While, for multiple reasons, the approval has taken longer than the expected time, we believe that the merged entity would strategically make us a stronger and well-poised organisation in the opportunity we target. The merger is likely to create long term value for the shareholders by way of stronger balance sheet, operational leverage, improving cash flows and business proposition. We are confident of taking the company to greater heights and have a positive outlook on the business scenario.''

Shares of the company declined Rs 2.65, or 7.74%, to settle at Rs 31.60. The total volume of shares traded was 58,386 at the BSE (Tuesday).



Ducon Infratechnologies Limited   (Q,N,C,F)*

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