Tribunal OKs Avenues (India) Pvt Ltd’s amalgamation with Infibeam

AHMEDABAD-GANDHINAGAR | MUMBAI | RAJKOT – Gandhinagar-Ahmedabad headquartered retail player Infibeam Incorporation Ltd has informed the Stock Exchanges in India regarding the amalgamation of Avenues (India) Private Ltd into the company, the filing to the Indian Exchanges today said.

National Company Law Tribunal (NCLT), Ahmedabad Bench vide its order dated May 7, 2018 (receipt on May 9, 2018), has approved the Scheme of Amalgamation of Avenues (India) Private Limited with lnfibeam Incorporation Limited and their respective Shareholders and Creditors under Section 230 to 232 and other applicable provisions of the Companies Act, 2013.

However, markets and investors have not cheered the news, as the company shares continued trading on red counters on the Indian Exchanges, today.


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