Asian Granito India Limited has informed the Exchange about Scheme of Arrangement - Receipt of Certified Copy of Order of Hon'ble NCLT for Scheme I.
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Asian Granito India Limited (AGIL) has received the certified copy of the NCLT Ahmedabad order dated June 12, 2025, sanctioning its Composite Scheme of Arrangement. The scheme involves nine companies and combines a demerger of tiles manufacturing businesses from three suppliers (Affil Vitrified, Ivanta Ceramics Industries, Crystal Ceramic Industries) into AGIL's wholly owned subsidiaries, a slump sale of AGIL's Marbles & Quartz Undertaking into Amazoone Ceramics Limited, and the merger of AGL Industries Limited into Amazoone Ceramics Limited. Shareholders and creditors of the companies had unanimously approved the scheme in meetings held in December 2024. The objective is backward integration of manufacturing, consolidation of the tiles business, and segregation of the marbles and quartz business into a focused entity.
This NCLT approval clears a major regulatory milestone, paving the way for AGIL to integrate three key supplier companies into its group, expand production capacity inorganically, and unlock a focused Marbles & Quartz entity. Shareholders of the demerged companies will receive shares of the listed AGIL, potentially leading to changes in shareholding pattern and float on BSE/NSE once the scheme becomes effective.