Intimation of Notice of NCLT Convened Meeting of the Equity shareholders and Secured Creditors of the Company scheduled to be held on Friday, July 4, 2025
Awaiting price reaction for this filing.
Piramal Enterprises Ltd (PEL) has informed stock exchanges that the National Company Law Tribunal (NCLT), Mumbai Bench has ordered separate meetings of its equity shareholders and secured creditors to consider a composite scheme of arrangement involving PEL, Piramal Finance Limited (PFL), and their respective shareholders. The equity shareholders' meeting is scheduled for July 4, 2025, at 10:00 a.m., followed by the secured creditors' meeting at 11:30 a.m., both to be held via video conferencing. Remote e-voting will be open from July 1 to July 3, 2025. Notices with explanatory statements and annexures were dispatched to shareholders and creditors electronically on June 2, 2025, and are also available on the company's website.
This is a procedural step in the ongoing composite scheme between PEL and its subsidiary PFL. Shareholders and secured creditors will now vote on the proposed arrangement, the outcome of which could materially reshape the group's structure. Investors should monitor the voting results and subsequent NCLT/NCLAT approvals, as these will determine the final structure and any impact on share value.