Asian Granito India Limited has informed the Exchange about General Updates - Notice of Court Convened Meeting of Unsecured Creditors of the Company.
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Asian Granito India has dispatched notices for a court-convened meeting of its unsecured creditors, scheduled for September 18, 2025, in Ahmedabad. The meeting is being held as directed by the NCLT Ahmedabad Bench to seek approval for a Composite Scheme of Arrangement involving the demerger of parts of the business into Adicon Ceramica Tiles Private Limited and Adicon Ceramics Limited. The underlying scheme application is CA(CAA) No. 45 of 2024. The company has already shared this information with the exchanges on June 20 and July 7, 2025. Notices were sent to all unsecured creditors on record as of March 31, 2025, via email and courier where email was unavailable.
This is a procedural milestone in an ongoing demerger process. Approval from unsecured creditors is a necessary step before the NCLT can sanction the scheme, so the actual outcome of the meeting on September 18 will be a key catalyst for the stock. Until the scheme is approved and effective, there is no immediate change to the business or shareholder structure.