Emkay Taps and Cutting Tools Limited — Updates, 31-10-2024: Scheme of Arrangement

Emkay Taps and Cutting Tools Ltd. has received approval from the National Company Law Tribunal for its Composite Scheme of Arrangement. This scheme involves the demerger of its business into Emkay Tools Ltd., which will issue equity shares to Emkay Taps shareholders. The shares of Emkay Tools will be listed on stock exchanges, allowing shareholders to manage investments across both companies. Procedural steps for implementation are to follow, with the effective date set for April 1, 2024.