Laurus Labs Limited has informed the Exchange regarding 'Update on Meetings of Unsecured Creditors in relation to the Composite Scheme of Arrangement'.
LAURUSLABS · price
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Laurus Labs has informed the stock exchanges that unsecured creditors of both its wholly-owned subsidiaries — Laurus Synthesis Private Limited (Transferor) and Sriam Labs Private Limited (Resulting) — have approved the Composite Scheme of Arrangement at meetings held on April 6, 2026. The meetings were conducted as directed by the NCLT Amravati Special Branch, with the required quorum present. The scheme involves a demerger and reorganization between Laurus Labs and its two wholly-owned subsidiaries under Sections 230-232 of the Companies Act, 2013. This approval from unsecured creditors is described as a significant milestone, though the scheme still requires final approval from the NCLT and other regulatory authorities.
This is a positive procedural step forward in Laurus Labs' internal corporate restructuring. Approval from unsecured creditors removes a key hurdle, bringing the composite scheme closer to completion, though investors should note that final NCLT and regulatory clearances are still pending before the scheme becomes effective.