AEQUS : REGIONAL DIRECTOR REJECTS SCHEME OF AMALGAMATION

• Regional Director, South Western Region, MCA rejected the scheme of amalgamation under Section 233 of the Companies Act, 2013 • Scheme proposed amalgamation of three wholly owned subsidiaries - AeroStructures Manufacturing India, Aequs Engineered Plastics and Aequs Force Consumer Products - into Aequs • Order says Transferee Company violated Section 233(1)(b) as votes polled represented 88.9% (₹596.76 Cr) of total share value of ₹670.67 Cr including Aequs ESOP Trust, below the 90% threshold • Other grounds: no NOC from BSE/NSE, no confirmation on delivery of postal ballot emails, and pending labour court cases against Transferor Company No.1 • Company is evaluating next course of action; says the amalgamation is an internal restructuring with no material impact on business operations • Company has liberty to refile under Section 233 or use Section 232 for approval

Aequs Limited

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