Approval of Scheme of Arrangement of Larsen & Toubro Limited and L&T Realty Properties Limited and their respective Shareholders and Creditors under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013
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Awaiting price reaction for this filing.
Larsen & Toubro has approved a Scheme of Arrangement involving itself and L&T Realty Properties Limited, its real estate arm. The scheme has been cleared by the company's board and will now be filed with the National Company Law Tribunal (NCLT) under Sections 230-232 of the Companies Act, 2013, which governs mergers, demergers, and corporate restructuring. Shareholders and creditors of both entities will be asked to approve the arrangement, after which NCLT will give its final sanction. Specific details such as share swap ratio, valuations, and whether this is a demerger or hiving-off have not been disclosed in this filing.
This is a board-level approval step in a longer restructuring process, so there is no immediate impact on share price or shareholder value. Retail investors should watch for the detailed scheme document, which will clarify the swap ratio, whether shares of L&T Realty will be listed separately, and how the real estate business is being reorganised within the L&T group.