The incorporation of Swastik Safe Deposit and Investments Limited dates back to August 6, 1940, with its registered and operational office situated in Mumbai, established by the Reserve Bank of India. The company received a registration certificate (RBI) under section 45 IA of the RBI Act, 1934, enabling it to conduct non-banking financial activities without soliciting public deposits. Its core operations primarily involve lending and investing.
Following the directive from the Hon'ble National Company Law Tribunal, Mumbai Bench, dated August 30, 2018, approving the Scheme of Merger (by Absorption) involving Piramal Texturising Private Limited, Vulcan Investments Private Limited, and Piramal Corporate Services Limited with Nicholas Piramal Pharma Private Limited (now known as Piramal Corporate Services Private Limited) (PCSPL), along with their respective shareholders, Piramal Corporate Services Limited, a Promoter Group Company holding 1,78,535 equity shares carrying 74.39% voting rights of our Company, has been amalgamated with PCSPL, another Promoter Group Company. This merger took effect from September 27, 2018, resulting in the cessation of Piramal Corporate Services Limited as of that date. Consequently, as per the NCLT Order and Scheme of Merger (by Absorption), all the 1,78,535 (74.39%) equity shares formerly held by Piramal Corporate Services Limited now belong to PCSPL. Both Piramal Corporate Services Limited and PCSPL are constituents of the Promoter Group Company.
It's important to note that while there has been a change in the shareholder structure of the Company, there has been no alteration in its control or its status as a Promoter of the Company.
Following the directive from the Hon'ble National Company Law Tribunal, Mumbai Bench, dated August 30, 2018, approving the Scheme of Merger (by Absorption) involving Piramal Texturising Private Limited, Vulcan Investments Private Limited, and Piramal Corporate Services Limited with Nicholas Piramal Pharma Private Limited (now known as Piramal Corporate Services Private Limited) (PCSPL), along with their respective shareholders, Piramal Corporate Services Limited, a Promoter Group Company holding 1,78,535 equity shares carrying 74.39% voting rights of our Company, has been amalgamated with PCSPL, another Promoter Group Company. This merger took effect from September 27, 2018, resulting in the cessation of Piramal Corporate Services Limited as of that date. Consequently, as per the NCLT Order and Scheme of Merger (by Absorption), all the 1,78,535 (74.39%) equity shares formerly held by Piramal Corporate Services Limited now belong to PCSPL. Both Piramal Corporate Services Limited and PCSPL are constituents of the Promoter Group Company.
It's important to note that while there has been a change in the shareholder structure of the Company, there has been no alteration in its control or its status as a Promoter of the Company.
