NMDC has informed that the Scheme of Arrangement between NMDC Limited and NMDC Steel Limited and their respective shareholders and creditors and the other applicable provisions & applicable rules, involving Demerger of the Demerged undertaking from Demerged Company to the Resulting Company has been duly sanctioned by the Ministry of Corporate Affairs vide its order dated 6 October 2022. Pursuant to the Order, upon the Scheme becoming effective, in consideration of the transfer and vesting of the Demerged Undertaking in the Resulting Company, the Resulting Company shall, issue and allot to all the equity shareholders of the Demerged Company, one equity share of the Resulting Company of INR 10 each fully paid-up for every one equity share held in the Demerged Company of INR 1 each fully paid-up. The Appointed Date of the Scheme is 1 April 2021. Accordingly, with effect from the Appointed Date, the entire Demerged Undertaking of NMDC Limited has been transferred and vested into NMDC Steel Limited. The net book value of assets which relate to the Demerged Undertaking as on the Appointed Date was INR 17,048.54 Crores and the Net Worth of NMDC Limited was INR 12,707.60 Crores.NMDC Limited (Demerged Company) - 42.71%NMDC Steel limited (Resulting Company) - 57.29%
NMDC has informed that the Scheme of Arrangement between NMDC Limited and NMDC Steel Limited and their respective shareholders and creditors and the other applicable provisions & applicable rules, involving Demerger of the Demerged undertaking from Demerged Company to the Resulting Company has been duly sanctioned by the Ministry of Corporate Affairs vide its order dated 6 October 2022. Pursuant to the Order, upon the Scheme becoming effective, in consideration of the transfer and vesting of the Demerged Undertaking in the Resulting Company, the Resulting Company shall, issue and allot to all the equity shareholders of the Demerged Company, one equity share of the Resulting Company of INR 10 each fully paid-up for every one equity share held in the Demerged Company of INR 1 each fully paid-up. The Appointed Date of the Scheme is 1 April 2021. Accordingly, with effect from the Appointed Date, the entire Demerged Undertaking of NMDC Limited has been transferred and vested into NMDC Steel Limited. The net book value of assets which relate to the Demerged Undertaking as on the Appointed Date was INR 17,048.54 Crores and the Net Worth of NMDC Limited was INR 12,707.60 Crores.NMDC Limited (Demerged Company) - 42.71%NMDC Steel limited (Resulting Company) - 57.29%
