Asian Granito India Limited has informed the Exchange about Scheme of Arrangement - Intimation with respect to Effective Date.
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Asian Granito India has confirmed July 1, 2025 as the effective date of its Composite Scheme of Arrangement after the E-Form INC-28 was filed with the Registrar of Companies, Ahmedabad. The scheme, which was approved by the NCLT Ahmedabad Bench via order dated June 12, 2025, involves multiple group entities in the ceramics and tiles space. It includes demergers involving Affil Vitrified, Ivanta Ceramics Industries, and Crystal Ceramic Industries, along with related restructuring into resulting companies and a transfer from AGL Industries to Amazoone Ceramics. The restructuring is being carried out under Sections 230-232 of the Companies Act, 2013. Share entitlement ratios were not disclosed in this particular filing.
The scheme has now become effective, which means the proposed demerger and reorganization of business among group companies will be operational from July 1, 2025. Shareholders should watch for follow-up disclosures on share allotment, record dates, and entitlement ratios arising from the demerger, which could impact the stock in the near term.