Withdrawal of scheme of Amalgamation of Abans Jewels Limited, Wholly owned subsidiary with Abans Enterprises Limited and their respective shareholder.
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Abans Enterprises Ltd has announced that the National Company Law Tribunal (NCLT) Mumbai Bench has disposed of the application for amalgamation between Abans Jewels Limited (its wholly owned subsidiary) and the company as 'withdrawn'. The company had previously informed on February 5, 2026 that both the Audit Committee and Board of Directors had approved the withdrawal of this scheme. The withdrawal was confirmed after both the transferor and transferee companies passed their respective resolutions to withdraw the company petition. A certified copy of the NCLT order dated April 13, 2026 has been obtained.
The failed amalgamation means Abans Jewels Limited will continue operating as a separate wholly owned subsidiary rather than being merged into the parent company. This removes potential synergies and streamlining benefits that were anticipated from the merger, which could be viewed negatively by investors expecting consolidation gains.