Please find attached herewith the 1st Order pronounced by Hon''ble NCLT, Kolkata bench on 14.11.2025 (uploaded on NCLT website on 19.11.2025) in the matter of Composite Scheme of Amalgamation.
ASHIKA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The NCLT Kolkata Bench pronounced an order on 14 November 2025 (uploaded on 19 November 2025) in the Composite Scheme of Amalgamation involving three Ashika group entities. The scheme proposes merging Ashika Commodities & Derivatives Pvt Ltd (ACDPL) into Ashika Global Securities Pvt Ltd (AGSPL), and then merging AGSPL into the listed entity Ashika Credit Capital Ltd (ACCL), with an appointed date of 1 April 2025. The swap ratio for AGSPL shareholders is 6,726 equity shares of ACCL (face value Rs 10) for every 10,000 shares held in AGSPL. After the scheme becomes effective, ACCL will be renamed 'Ashika Global Securities Limited'. BSE and RBI have already given their no-objection to the scheme. The NCLT dispensed with shareholder and creditor meetings for AGSPL and AGSPL's transferor (100% consent obtained) and directed that a virtual meeting of ACCL's equity shareholders be convened within 90 days, with remote e-voting and Mr. Mohan Ram Goenka appointed as Chairperson.
For ACCL shareholders, this is an interim procedural step — the merger still requires shareholder approval at the upcoming NCLT-convened meeting and a second motion petition before final sanction. The eventual merger would consolidate the group's securities and NBFC businesses under the listed entity and rename the company, which may affect the stock's profile but is not yet concluded.