Asian Granito India Limited has informed the Exchange about General Updates - Notice of Court Convened Meeting of Secured Creditors of the Company as per directions of Hon'ble NCLT to approve Scheme.
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Asian Granito India Limited has informed the stock exchanges about the notice for a meeting of its secured creditors to be held on September 18, 2025, as directed by the NCLT Ahmedabad Bench. The meeting is to consider and approve a Composite Scheme of Arrangement involving the demerger of business between Asian Granito India Limited, Adicon Ceramica Tiles Private Limited, and Adicon Ceramics Limited, along with their respective shareholders and creditors. The company has completed dispatch of the meeting notice to all secured creditors as of August 11, 2025. This follows earlier NCLT directions communicated on June 20, 2025 and July 7, 2025 under Company Scheme Application CA(CAA) No. 45 of 2024.
This is a procedural update in an ongoing demerger process. The actual impact on shareholders will depend on the terms of the scheme, including any share exchange ratio and the final NCLT approval. Investors should watch for further updates on the scheme's terms and the outcome of the September 18 meeting.