JK Tyre & Industries Limited has informed the Exchange regarding Notice of Court Convened General Meeting to be held on September 03, 2025
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JK Tyre & Industries has informed exchanges about a court-convened meeting of its equity shareholders and unsecured creditors to be held on September 3, 2025 (via video conferencing) to approve the proposed amalgamation of Cavendish Industries Limited (Transferor Company) with JK Tyre & Industries (Transferee Company) under Sections 230-232 of the Companies Act, 2013. The meeting has been directed by the NCLT Jaipur Bench (Tribunal Order dated June 12, 2025 read with July 10, 2025) in Company Application No. CA(CAA) No. 5/2025. The share exchange ratio has been recommended by PwC Business Consulting Services LLP (Registered Valuer) in a report dated September 16, 2024, with a fairness opinion issued by ICICI Securities on the same date. BSE and NSE have already issued observation letters dated April 1, 2025 and April 2, 2025, respectively. Remote e-voting will be open from August 31, 2025 to September 2, 2025, with the cut-off date for eligibility being August 27, 2025.
This is a key procedural milestone in the merger of Cavendish Industries into JK Tyre. Shareholders should note the September 3, 2025 meeting date, as approval by 3/4 majority in value of shareholders (and majority of public shareholders voting in favour as per SEBI rules) is required for the scheme to move forward to final NCLT sanction. Approval could simplify the group structure and consolidate operations, while rejection could delay or derail the merger.