Kansai Nerolac Paints Limited has informed the Exchange regarding Proceedings of Court Convened General Meeting held on February 27, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.
KANSAINER · price
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On the reaction day the stock moved 0.3 pts less than Nifty Microcap 250 and 0.6 pts less than its Paints peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Kansai Nerolac Paints Limited held an NCLT-convened meeting of equity shareholders on February 27, 2026, via video conferencing, to consider the Scheme of Amalgamation of Nerofix Private Limited with Kansai Nerolac Paints Limited under Sections 230-232 of the Companies Act, 2013. The resolution was approved with overwhelming shareholder support, with 99.9992% of votes (69,92,67,642 shares) in favour and only 0.0008% (5,417 shares) against. The promoter, Kansai Paint Company Limited, voted all 6,06,203,847 shares (75% stake) in favour, alongside 100% of public institutional votes and 98.81% of public non-institutional votes. The scrutinizer, J.H. Ranade of JHR & Associates, confirmed the resolution was passed with the requisite three-fourths majority in value as required by law.
The shareholder approval is a key milestone in the amalgamation process; the scheme will now proceed for NCLT sanction. Nerofix Private Limited is likely a wholly-owned or group entity, so the impact on Kansai Nerolac's share price or minority shareholders is expected to be minimal.