Laxmi Goldorna House Limited has informed the Exchange regarding 'a copy Srutinizers report of meeting of Secured creditors on July 05, 2025. Further, the company has informed the Exchange regarding voting results''.
LGHL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Laxmi Goldorna House Limited (LGHL) held a meeting of Secured Creditors on July 5, 2025, to seek approval for the Scheme of Amalgamation of Laxmi Infraspace Private Limited with LGHL and their respective shareholders and creditors. All 3 secured creditors (representing ₹85,99,43,504 i.e. ~₹86 crore in outstanding amount) attended the meeting and voted unanimously in favour of the special resolution, with 100% votes in favour and 0 against. The Scrutinizer certified that the resolution was passed with the requisite majority under Section 233(1)(d) of the Companies Act, 2013, which requires nine-tenths in value of creditors to approve. The notice was issued on June 7, 2025, and remote e-voting was conducted from June 30 to July 4, 2025, via NSDL's platform.
This is a key milestone in the amalgamation process — secured creditors have given full approval for the merger of Laxmi Infraspace Private Limited into the listed entity. Shareholders should watch for further approvals needed (NCLT, shareholders, unsecured creditors) and the eventual swap ratio announcement, which will determine whether the deal is value-accretive. Approval at this stage is constructive and removes one major hurdle, though the merger is not yet concluded.