NCLT Approves Composite Scheme for Demerger of Raymond Limited and Raymond Lifestyle
The Tribunal approved the demerger as all statutory compliances were fulfilled, including the filing of requisite documents with the Registrar of Companies and Superintendent of Stamps.
The Mumbai bench of the National Company Law Tribunal (NCLT) approved the composite scheme for the demerger of Raymond Limited, Raymond Lifestyle, and Ray Global Consumer Trading. Raymond Limited stated that the rationale behind the scheme was the distinct operational requirements and strategic focus of Raymond’s different business verticals. RL currently has both lifestyle and…
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