Intimation under Regulation 30 and 51 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Filing of Company Scheme Application with Hon''ble National Company Law ....
Awaiting price reaction for this filing.
Piramal Enterprises has filed a Company Application with the National Company Law Tribunal (NCLT), Mumbai Bench, on 10th April 2025 in connection with its composite scheme of arrangement with Piramal Finance Limited (formerly Piramal Capital & Housing Finance Limited) and their respective shareholders and creditors. This filing follows the receipt of no-objection letters from BSE, NSE, and the Reserve Bank of India (RBI). The scheme is being pursued under Sections 230-232 of the Companies Act, 2013. This is a procedural milestone in the long-pending composite restructuring plan between the two entities.
For shareholders, this is a routine procedural step toward the composite scheme, not a new event. The NCLT process will now determine the timeline for sanction and implementation, which could affect the future capital and shareholding structure between PEL and Piramal Finance.