Arkade Developers Limited has informed the Exchange about the pronouncement of order by Hon'ble National Company Law Tribunal regarding Scheme of Arrangement on March 16, 2026.
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The NCLT Mumbai Bench has sanctioned the Scheme of Arrangement between Filmistan Private Limited (a wholly-owned subsidiary) and Arkade Developers Limited on March 16, 2026. Under the scheme, the rental business of Filmistan will be demerged and transferred into Arkade on a going concern basis, with an Appointed Date of August 1, 2025. The rationale is to consolidate leasehold rights with the underlying land ownership under Arkade, streamlining management and creating a single ownership framework. No objections were raised by the Regional Director or any other party, and the scheme will become effective upon filing the certified copy of the order with the Registrar of Companies. Arkade had a net worth of Rs. 88,370.20 lakhs as of March 31, 2025, and had infused Rs. 1,260.55 lakhs into Filmistan in September 2025 to turnaround its previously negative net worth.
This is an internal group restructuring (parent-subsidiary demerger) with no adverse impact flagged by regulators. Shareholders should expect a Record Date to be announced for share issuance to Filmistan's shareholders, after which the scheme will become effective. The consolidation simplifies Arkade's ownership structure but is unlikely to materially change its overall business or financials since Filmistan was already a wholly-owned subsidiary.