Parvati Sweetners and Power Ltd. agreed to acquire Dollex Industries Ltd. (BSE:531367) for approximately INR 180 million on May 5, 2015. The deal value is payable in stock. As consideration, Parvati Sweetners will issue 1 share worth INR 5 for every 0.97 shares of Dollex Industries. Upon completion of the deal, Dollex Industries will be amalgamated and all the employees of Dollex Industries will be taken over by Parvati Sweetners. A restructuring committee comprising of 3 members Mehmood Khan, Akram Khan and Anis Khan for the scheme of amalgamation will be formed. The deal is subject to court approval, approval by shareholders and creditors of both Parvati Sweetners and Power Ltd. and Dollex Industries Ltd. The Board of Dollex Industries has approved the transaction. As on October 12, 2017, Dollex Industries Limited sanctioned the scheme of amalgamation. Crawford Bayley & Co acted as legal advisor, Sunil Nyati of Swastika Investmart Ltd. acted as fairness opinion provider and Abhilasha Bhagat of P. K. Shishodiya & Co. acted as valuer for Dollex Industries. Parvati Sweetners and Power Ltd. completed the acquisition of Dollex Industries Ltd. (BSE:531367) on January 19, 2018. The deal was sanctioned by National Company Law Tribunal as on December 12, 2017.