Mukand Alloy Steels Private Limited agreed to acquire Mukand Vijaynagar Steel Limited from Mukand Limited (BSE:500460) on January 1, 2017. The consideration will be paid in shares. As part of the consideration Mukand Alloy Steels Private Limited will issue 1 share for 3 shares of Mukand Vijaynagar Steel Limited. In a related transaction, Mukand Alloy Steels Private Limited agreed to acquire alloy steel rolling and finishing business of Mukand Limited for INR 2.2 billion. The transaction is subject to approval from the shareholders, creditors, Securities and Exchange Board of India, stock exchange, income tax authorities, Registrar, official liquidator and the National Company Law Tribunal. The transaction is approved by the audit committee and Board of Directors of Mukand Limited. As of July 15, 2017, the meeting of shareholders will be held on August 16, 2017. On August 16, 2017, the shareholders Mukand Limited of approved the transaction. On December 13, 2017, the National Company Law Tribunal approved the transaction. On January 16, 2018, all the conditions of the transaction are fulfilled. Sharp & Tannanis acting as chartered accountant and JM Financial Intuitional Securities Ltd. give fairness opinion. JSA Advocates & Solicitor acted as the legal advisor for the transaction.