Outcome of NCLT convened meeting
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Innovassynth Investments Limited held an NCLT-convened meeting of equity shareholders on September 5, 2025, to approve the Scheme of Merger by Absorption of Innovassynth Technologies (India) Limited (Transferor Company) into Innovassynth Investments Limited (Transferee Company), with the appointed date set as October 1, 2024. The scheme was approved with the requisite majority: 95.07% of total votes polled were in favour (1,49,70,925 shares) versus 4.93% against (7,76,822 shares). Among public shareholders (a key SEBI requirement), 88.81% voted in favour. Promoters voted 100% in favour, public non-institutions voted nearly 100% in favour, while public institutions voted entirely against the resolution. The scheme now awaits final sanction from the NCLT Mumbai Bench to become effective.
The merger has cleared the shareholder approval stage, which is a significant positive milestone. The scheme still requires NCLT's final order before becoming effective, after which Innovassynth Technologies (India) Limited shareholders will become shareholders of Innovassynth Investments Limited on the agreed swap ratio.