Hindware Home Innovation Limited has informed the Exchange regarding Notice of the Meeting of the Unsecured Creditors of Hindware Home Innovation Limitedbeing convened as per directions of Hon ble National Company Law Tribunal, KolkataBench ( NCLT ) in the matter of the Composite Scheme of Arrangement betweenHindware Home Innovation Limited ( Demerged Company/Remaining TransferorCompany ), HHIL Limited ( Resulting Company ) and Hindware Limited ( TransfereeCompany ) and their respective shareholders and creditors under Sections 230 to 232 andother applicable provisions of the Companies Act, 2013
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Hindware Home Innovation Limited has informed the exchange about a meeting of its unsecured creditors being convened as directed by the NCLT Kolkata Bench. The meeting is being held in connection with a Composite Scheme of Arrangement involving three entities: Hindware Home Innovation Limited (Demerged/Remaining Transferor Company), HHIL Limited (Resulting Company), and Hindware Limited (Transferee Company). The scheme is being pursued under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013, which govern mergers, demergers, and corporate restructuring. No specific ratio, valuation, or timeline details have been disclosed in this particular filing.
This is a procedural step in an ongoing corporate restructuring involving demerger and transfer of business. Shareholders should watch for further updates on the scheme's approval, share entitlement ratio, and timelines, as successful implementation could restructure the company's business portfolio.