Maxwell Industries Updates

Maxwell Industries Ltd has informed that an intimation was received from the Promoter Directors of the Company, who are also Directors on the Board of Lovable Lingerie Pvt Ltd (LLPL) and Microtex India Ltd (MIL) that the Merger / Amalgamation of LLPL & MIL should not be pursued further, as the effective date of scheme of amalgamation has already been expired.

Further, the Company has informed the exchange that, LLPL & MIL will move to the Hon'ble High Court of Bombay for withdrawing the scheme of amalgamation with the Company and also seeking the direction of Hon'ble High Court of Bombay to dismiss the application and dispose of petition.

Now the Company has informed exchange that, Company has received the communication from the Advocate (appointed for the Merger / Amalgamation) that Hon'ble High Court of Bombay permitted the withdrawal of the above petition and accordingly petition of the Transferee Company i.e. Maxwell Industries Ltd also stand disposed off.