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HC-NIC                                  Page 1 of 12     Created On Sun Feb 28 02:50:38 IST 2016
                  O/COMP/432/2015                                           ORDER

2. These petitions have been filed by the Petitioner  Companies   for   the   sanction   of   the   Scheme   of  Amalgamation   between   Digjam   Limited   and   Digjam  Textiles   Limited   and   their   respective   creditors   and  shareholders ("Scheme") under Sections­391 to 394 of  the Companies Act, 1956, along with the corresponding  provisions of Companies Act, 2013.

3. Digjam Limited ("DL" or "Transferor Company") is  a listed public limited company and the shares of DL  are listed on BSE Limited ('BSE') and National Stock  Exchange   of   India   Limited   ('NSE').   Digjam   Textiles  Limited ("DTL" or "Transferee Company") is an unlisted  public   limited   company,   the   entire   share   capital   of  which is held by DL and its nominees. 

4. The said Scheme is proposed in order to provide  greater financial strength and flexibility which would  result   in   maximizing   overall   shareholder   value   and  improve the economic and competitive position of the  combined   entity;   achieve   greater   efficiencies   in  operations   with   optimum   utilization   of   resources,  better   administration   and   reduced   cost;   better  financial,   business   and   operational   aspects   and  HC-NIC Page 2 of 12 Created On Sun Feb 28 02:50:38 IST 2016 O/COMP/432/2015 ORDER improved   administrative   control   of   the   Amalgamated  Company.  The petitions give, in detail, the benefits  envisaged due to the Scheme.

c) It   is   therefore   submitted   that   the   petitioner transferee company should pay the  necessary   fees   including   other   fees   and  charges   for   alteration   of   its   name   to  M/s.Digjam Limited in compliance of Section  13 of the Companies Act, 2013. The Hon'ble   Court may therefore be pleased to direct the   petitioner transferee company to comply with  the   relevant   provisions   of   the   Companies  Act, Name availability guidelines and ensure  the   payment   of   applicable   fees/charges   for  alteration   of   the   name   of   the   petitioner  transferee   company   as   M/s.Digjam   Limited,  besides payment of Stamp Duty payable as per   rules   of   transfer   of   assets   to   transferee  company on amalgamation.