In connection with the captioned subject, we acknowledge the receipt of your email dated October 25, 2025 , regarding a delay in submission of the disclosure pertaining to the NCLT order ....
Awaiting price reaction for this filing.
GB Global Ltd filed two letters to BSE — one on October 16, 2025 disclosing the NCLT Mumbai order dated October 10, 2025, and another on October 27, 2025 explaining a delay in that disclosure. The NCLT order pertains to a Scheme of Merger by Absorption of GB Global into its parent Dev Land & Housing Private Limited. The company says the delay was inadvertent — it became aware of the order only on October 16 through its legal counsel and filed the intimation on October 17, which it argues is within the 24-hour SEBI disclosure window from the time of awareness. The NCLT has directed a shareholders' meeting to be held within 70 days. Eligible minority shareholders of GB Global will get an exit at INR 120 per equity share plus 1 Redeemable Preference Share (face value INR 10, 0.01% dividend, 10-year tenure) per share held. GB Global's equity shares, which are not currently trading on the exchanges, will be deemed delisted upon the merger's effectiveness.
GB Global (a listed but non-trading entity) is being absorbed into its parent Dev Land & Housing, which will result in deemed delisting. Minority shareholders get a fixed exit at INR 120 per share plus RPS — the stock effectively has no trading value on exchanges either way. The delayed disclosure is a compliance lapse that BSE has flagged, but the company argues it acted within SEBI's 24-hour rule once it had actual knowledge.