Company news: Axiscades Engineering Technologies

Axiscades Engineering Technologies on Thursday informed the exchanges that the National Company Law Tribunal, Bengaluru Bench, has approved the scheme of amalgamation of Explosoft Tech Solutions Private Limited with the company. The appointed date of the scheme is December 1, 2017. As the registered office of Explosoft is Maharashtra based, the scheme has also been filed with the National Company Law Tribunal, Mumbai, for approval, it said. As per the scheme of arrangement, 10 fully paid equity shares of ₹5 each will be allotted for 69 fully paid shares of ₹10 each held in Explosoft. Shares of Axiscades slipped 0.85 per cent at ₹69.95 on the BSE.