PS IT Infrastructure & Services Ltd

PS IT Infrastructure Services Ltd was incorporated in 17 May 1982 in Mumbai. The Company is engaged in trading of computer hardware and software, dealing in shares other securities.As a part of expansion of business line, during the year 2013, the Company acquired two IT Companies namely Swift Infrastructure Services Ltd and Crescent Digital Technologies Ltd. These two companies are in businesses of consultancy related to development of IT software, IT integrated infrastructure and trading in computer and hardware, developing IT integrated infrastructure and executing other IT Infrastructure related contracts and trading in computer hardware.Pursuant to scheme of Amalgamation approved by shareholders and sanctioned by Honble High Court at Mumbai on 03 May 2013 under provision of Companies Act, 1956 of which certified order copy received on 30th May 2013, the entire undertaking of Crescent Digital Technologies Ltd (CDTL) and Swift IT Infrastructure Services Ltd (SIISL), the transferor companies, has been transferred to Company as a going concern with effect from 31st July 2012 (the appointed date). In accordance with scheme 4,25,20,000 Equity Shares of Rs.10/ each fully paid up and ranking in paripassu with existing Equity Shares are to be issued by company to equity shareholders of Crescent Digital Technologies Ltd and Swift IT Infrastructure Services Ltd in the ratio of 1:1 i.e. 1 new equity share of Rs.10/ each in the transferee company credited as fully paid up for 1 equity share of Rs.10/ each in capital of transferor company. High Court vide its order dated 3rd May 2013 has approved the amalgamation and now the Company looks forward for improved results and in turn increase shareholders value.