KSPL definition
Examples of KSPL in a sentence
NATURAL GAS PIPELINE FOR KAKINADA‐SRIKAKULAM PIPELINE PROJECT (KSPL PHASE‐1 PIPELINE) BID Doc No. : 05/51/23QC/APGDC/097 MECON LIMITED Rev.
In consideration of the above mentioned rationale and related benefits, this Scheme between KSPL and KCL is being proposed in accordance with the terms set out hereunder.
All the insurance policies registered in the name of KSPL shall, pursuant to the provisions of Section 394(2) of the Act, without any further act, instrument or deed, be and stand transferred to and vested in and or be deemed to have been transferred to and vested in and be available to the benefit of KCL and accordingly, the insurance companies shall record the name of KCL in all the insurance policies registered in the name of KSPL.
With effect from the Appointed Date and upon the Scheme becoming effective, immovable property, if any, including but not limited to land and buildings with plants and equipment or any other immovable property of KSPL, whether freehold or leasehold, and any documents of title, rights and easements in relation thereto shall stand transferred to and be vested in KCL, without any further instrument, deed or act.
Further this Scheme also provides that Promoters shall indemnify KCL and keep KCL indemnified for any contingent liabilities and obligations including all demands, claims, suits, proceedings and the like which may be instituted by any third party(ies) including governmental authorities on KCL and are directly relatable to KSPL or which may devolve on KCL on account of this Scheme.
All costs, charges, taxes including duties (including the stamp duty and/ or transfer charges, if any, applicable in relation to this Scheme), levies and all other expenses, if any (save as expressly otherwise agreed) of KSPL and KCL arising out of or incurred in carrying out and implementing this Scheme and matters incidental thereto shall be borne and paid by the Promoters and/or KSPL and or /its members.
The Amalgamation of KSPL into KCL would not only lead to simplification of the shareholding structure and reduction of the shareholding tiers, but also demonstrate the promoter group direct commitment to and engagement with KCL.
KSPL shall take all steps necessary for the transfer, where applicable, of the Provident Fund, Gratuity Fund, Superannuation Fund and/ or schemes and trusts, including employee’s welfare trust, pursuant to the Scheme, to KCL.
The Equity Shares of KSPL are not listed on any of the stock exchange.
Upon coming into effect of this Scheme and subject to the above provisions, the shareholders of KSPL shall receive new share certificates (in dematerialized form or physical form) reflecting the shares held by each member in KCL and the shares or the share certificates of KSPL in relation to the shares held by its shareholders shall, without any further application, act, instrument, deed, be deemed to have been automatically cancelled and be of no effect on and from the Record Date.