U Y Fincorp Limited to divest stake in subsidiary

The Board of Directors of U. Y. Fincorp Limited at its meeting held on 19th January, 2017 already considered and approved the disinvestment of the entire shares of one of its wholly owned subsidiary viz, Aristro Capital Markets Limited (ACML) to one or more entities subject to the Shareholders approval vide Postal Ballot and as per the combined Scrutinizer Report on E-voting & Postal Ballot dated 21st March, 2017 issued by Mr. Prateek Kohli, practicing Company Secretary (CP No 16457), Proprietor of M/s Prateek Kohli & Associates, Company Secreiaries, the Scrutinizer, the members of our Company had approved the proposal of disinvestment of the M/s Aristro Capital Markets Limited to one or more entities. The transaction for sale of shares was pending for regulatory approvals.

Since necessary regulatory approval was now received for effecting said disinvestment the Board of Directors of the Company at its meeting held today i.e, 4th November, 2022 has considered and approved the draft agreement placed before the Board for disinvestment of entire equity shareholding of the company held in Aristro Capital Markets Limited, being the wholly owned subsidiary of the Company.

Source : Equity Bulls

Keywords

UYFincorp Divestment StakeSale Subsidiary AristroCapitalMarkets