Balkrishna Paper Mills Limited has informed the Exchange about General Updates:This is in connection with our letter dated 23rd December, 2025 informing about the decision taken by the Board of Directors of Balkrishna Paper Mills Limited approving the proposed Scheme under Section 66 read with Section 52 and other applicable provisions of the Companies Act, 2013 and other rules and regulations framed thereunder, subject to receipt of various statutory and regulatory approvals. In this regard, we would like to inform you that Balkrishna Paper Mills Limited has received return letter from BSE Limited, and the National Stock Exchange of India Limited both dated 13th April, 2026. The copies of said letters are enclosed herewith.The Scheme remains subject to statutory and regulatory approvals inter alia including approvals from the National Company Law Tribunal and the Shareholders of the Company. We request you to kindly take the above information on record.
BALKRISHNA · price
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Balkrishna Paper Mills Limited has received return letters from both BSE and NSE dated 13th April 2026 regarding its proposed Scheme of Reduction of Share Capital. The scheme involves writing off accumulated losses against the company's share capital on a pro-rata basis across all shareholders, under Section 66 read with Section 52 of the Companies Act, 2013. The exchanges returned the draft scheme citing Regulation 37(6)(b) of SEBI LODR, which exempts such schemes from requiring stock exchange approval since they apply uniformly across all shareholders. Regarding unlisted NCRPS issued to promoters, the exchanges noted this falls outside SEBI/Exchange jurisdiction. The scheme still requires approvals from NCLT and the company's shareholders to proceed.
The return of the scheme means the company can proceed with capital reduction without needing exchange approval under this regulation. For shareholders, this is a restructuring that will reduce the company's accumulated losses and potentially improve its financial position, though it does not involve any cash payout or change in ownership percentage.