Pursuant to the NCLT order dated June 19, 2025, meetings of Equity Shareholders and Unsecured Creditors is directed to be convened in compliance with the provisions of Companies Act, 2013 ....
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The National Company Law Tribunal (NCLT) has issued an order dated June 19, 2025, directing the company to convene meetings of its equity shareholders and unsecured creditors. These meetings are to be held in compliance with the provisions of the Companies Act, 2013, which typically relates to a scheme of arrangement, compromise, or restructuring involving the company and its creditors. Shareholders and creditors will be asked to vote on the proposed arrangement. The company has not yet disclosed the specific terms of the proposed scheme or the purpose of the restructuring.
This is a procedural step in a likely corporate restructuring or scheme of arrangement, not an insolvency admission. Shareholders should watch for the detailed scheme document and the outcome of the meetings, as approval could significantly alter the company's capital structure or financial obligations.