COURT CONVENED MEETING OF UNSECURED CREDITORS 30.05.2026
KMSUGAR · price
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K.M. Sugar Mills Limited held an NCLT convened meeting of unsecured creditors on May 30, 2026, pursuant to an NCLT order dated March 24, 2026. The meeting was conducted via video conferencing and lasted about 8 minutes. The agenda was to obtain approval for a Scheme of Arrangement for Demerger between K.M. Sugar Mills Limited (Demerged Company) and KM Spirits and Allied Industries Limited (Resulting Company). A total of 21 unsecured creditors attended the meeting. Remote e-voting was available from May 27-29, 2026, and e-voting remained open for 15 minutes after the meeting. The resolution was passed with the requisite majority, meaning unsecured creditors approved the demerger scheme.
The approval by unsecured creditors is a key step in the demerger process. The spirits and allied industries business will be transferred to KM Spirits and Allied Industries Limited, creating a separate entity. Shareholders should monitor for further announcements on the demerger ratio and final approval stages.