Umang Dairies Limited has announced a board meeting on the financial results for the quarter and half-year.

The National Company Law Tribunal has approved a scheme transferring Umang Dairies’ food business to Panchmahal Properties Limited, a wholly-owned subsidiary of Bengal and Assam Company Limited, while the remaining business will merge with Bengal and Assam Company Limited.

Shareholders and creditors gave unanimous approval, and all statutory authorities raised no objections.

Tax obligations and ongoing cases will move to Panchmahal Properties Limited.

After the scheme, Umang Dairies will dissolve without winding up, with all assets, liabilities, employees, and business transferring to the resulting companies.