India Glycols Limited has informed the Exchange regarding 'Outcome of Court Convened Meeting of Unsecured Creditors along with Voting Results and Scruitiniser Report'.
INDIAGLYCO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
India Glycols Limited held an NCLT-ordered meeting of its unsecured creditors on 24th March 2026, pursuant to orders from the NCLT Allahabad Bench dated 15th January and 16th February 2026. The single resolution before the creditors was to approve the Scheme of Arrangement involving the demerger of India Glycols into Ennature Bio Pharma Limited and IGL Spirits Limited, under Sections 230-232 of the Companies Act, 2013. Out of 575 unsecured creditors (with total outstanding dues of about Rs. 1,12,010.63 lakh, or roughly Rs. 1,120 crore), 36 creditors participated in e-voting representing Rs. 64,266.50 lakh in claims. All 100% of votes polled were cast in favour of the scheme, with zero votes against and no invalid/abstained votes. The scrutinizer confirmed the resolution was passed with the requisite majority (three-fourths in value). The next steps would typically involve shareholder and NCLT sanction of the scheme.
This is a procedural milestone in India Glycols' proposed restructuring/demerger into two entities. Unsecured creditor approval clears a key hurdle but the scheme still requires shareholder meetings and final NCLT sanction. Positive signal that the restructuring is progressing smoothly with no creditor opposition, though the ultimate effect on shareholder value will depend on the share entitlement ratio and the business prospects of the resulting entities.