Diamond Footcare Udyog Private Limited agreed to acquire B. P. Capital Limited (BSE:536965) in a reverse merger transaction on November 23, 2016. Under the agreement, each shareholder of Diamond Footcare Udyog Private Limited having 100 shares will receive 241 equity shares of INR 10 each and 5002 compulsory convertible preference shares of INR 10 each in B. P. Capital Limited (BSE:536965). B. P. Capital Limited will change its name to Diamond Footcare Udyog Private Limited. The transaction is subject to approval from shareholders of B. P. Capital Limited and National Company Law Tribunal. The Board of Directors of B. P. Capital Limited approved the transaction on January 17, 2017. As of October 23, 2018, Honorable Company Law Tribunal Chandigarh Branch directed to convene meeting of shareholders of B. P. Capital Limited on December 15, 2018. Secured Creditors of B. P. Capital Limited approved the transaction on December 15, 2018. Corporate Professionals Capital Private Limited acted as fairness opinion provider for B. P. Capital Limited and Sanjeev Jagdish Chand & Associates acted as valuer for B. P. Capital Limited. Diamond Footcare Udyog Private Limited cancelled the acquisition of B. P. Capital Limited (BSE:536965) in a reverse merger transaction on August 28, 2019. As of August 28, 2019, NCLT Chandigarh Bench, Chandigarh allowed withdrawal of the merger.