SAB Industries Limited (BSE:539112) entered into the amalgamation to acquire the remaining 91.72% stake in Steel Strips Limited on July 2, 2019. As per the terms, no cash consideration involved in the transaction. Every shareholders of Steel Strips Limited holding 350 shares will get 1 shares of SAB Industries. The scheme shall be subject to the approval of the shareholders, creditors, Securities and Exchange Board of lndia, Reserve Bank of India, the Stock Exchanges where equity shares of Steel Strips Limited are listed, the Income Tax Authorities, the Registrar, Official Liquidator, the National Company Law Tribunal, and/ or such other competent statutory/regulatory Authorities as may be required under applicable law. As of July 2, 2019, Board of Directors of Steel Strips approved the transaction. As of October 6, 2021, National Company Law Tribunal, Chandigarh Bench approved the transaction. The Scheme will become effective upon filing of the certified copy or the order with the Registrar of Companies, Chandigarh. SAB Industries Limited (BSE:539112) completed the acquisition of the remaining 91.72% stake in Steel Strips Limited on October 19, 2021.