Asian Granito India Limited has informed the Exchange about Scheme of Arrangement - Receipt of Order for Scheme II.
ASIANTILES · price
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On the reaction day the stock moved 0.9 pts more than Nifty Microcap 250 and 0.7 pts more than its Ceramics peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Asian Granito India has informed the exchanges about receiving an NCLT Ahmedabad order dated 4 July 2025 (web copy uploaded 7 July 2025) in connection with its proposed Composite Scheme of Arrangement involving AGIL, Adicon Ceramica Tiles Private Limited, and Adicon Ceramics Limited. The order was passed on a Miscellaneous Application filed by the companies seeking modifications to the earlier NCLT order dated 19 June 2025. Key modifications include changing the venue of creditors' meetings to Ahmedabad Management Association, merging lease liability creditors with unsecured creditors, specifying quorum requirements (2 for AGIL secured creditors, 1 for Adicon secured creditors, 15 for unsecured creditors), and retaining the Appointed Date of 16 October 2023. The application was allowed, and all other directions from the earlier order remain unchanged. Creditor meetings are now scheduled for 18 September 2025.
This is a procedural step forward in the composite scheme of arrangement, with creditor meetings rescheduled and procedural clarifications completed. The scheme continues to progress without any adverse findings, which is a mildly positive sign for the restructuring timeline.