Laxmi Goldorna House Limited has informed the Exchange regarding Notice of Meeting of Unsecured Creditors to be held on July 05, 2025
LGHL · price
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Awaiting price reaction for this filing.
Laxmi Goldorna House Limited (LGHL) has called a meeting of its unsecured creditors on July 5, 2025, to seek approval for the amalgamation of its wholly-owned subsidiary, Laxmi Infraspace Private Limited, into itself. The scheme, already approved by both companies' boards on April 28, 2025, has an appointed date of April 1, 2025. As a 100% wholly-owned subsidiary merger, no share-swap ratio is required since LGHL already holds all 10,000 shares of the transferor company. The scheme is proceeding under the fast-track Section 233 route of the Companies Act, 2013, with approval needed from the Regional Director (Northern Region). LGHL's paid-up capital stands at Rs. 20.87 crore, with secured creditors of about Rs. 86 crore and unsecured creditors of about Rs. 12.54 crore as on March 31, 2025. The transferor company has unsecured creditors of about Rs. 21.24 crore and no secured creditors.
This is a routine internal restructuring that simplifies the group structure and should not affect LGHL shareholders - no new shares will be issued, the shareholding pattern remains unchanged, and existing business operations continue as before. Watch for the creditors' meeting outcome and Regional Director approval before the scheme becomes effective.