Intimation of Scrutinizers Report of Secured Creditors Meeting held on 09.08.2025 2.30 PM
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Accel Limited held a meeting of its Secured Creditors on 9 August 2025 at its registered office, as directed by the NCLT Chennai bench, to seek approval for the scheme of amalgamation of Accel Media Ventures Limited into Accel Limited. The original quorum of 4 secured creditors was not met, so the meeting was adjourned for 30 minutes and resumed at 2:30 PM with 2 secured creditors present. Both secured creditors — Federal Bank (₹2,97,84,547) and IndusInd Bank (₹26,74,70,703) — voted entirely in favour of the special resolution, with no votes against and no invalid votes. Total valid votes polled stood at ₹29,72,55,250, representing 100% approval. The scrutinizer, appointed by the NCLT, certified that the resolution was passed with the requisite majority.
This is a positive procedural step toward completing the merger of Accel Media Ventures into Accel Limited. With secured creditors on board, the scheme now needs further NCLT and regulatory clearances before becoming effective. Shareholders should watch for the next NCLT hearings and the timeline for the merger to formally take effect.