Scrutnizer Report on CCM of Unsecured Creditors
KMSUGAR · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
K M Sugar Mills Limited has received approval from its unsecured creditors for a Scheme of Arrangement for Demerger. The NCLT Allahabad Bench convened meeting held on May 30, 2026 approved the demerger with KM Spirits and Allied Industries Limited as the Resulting Company. Out of 414 eligible unsecured creditors (total debt Rs 9.84 crore), 85 creditors holding votes worth Rs 4.97 crore participated and 100% voted in favor with no votes against. The scheme was approved by the requisite majority as stipulated under Section 230(6) of the Companies Act, 2013. The demerger still requires final NCLT sanction before becoming effective.
The company is proceeding with its planned demerger to separate its sugar business from spirits operations. Shareholders and creditors should note that the scheme remains subject to final NCLT approval and regulatory clearances before implementation.