Announcement under Reg 30 (LODR)-scheme of Arrangement observation letter.
MCCHRLS-B · price
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Awaiting price reaction for this filing.
Mac Charles (India) Ltd has received an Observation Letter from BSE with 'No adverse observations / No objection' on its Composite Scheme of Arrangement with Embassy Prism Ventures Limited. The scheme, originally approved by the Board on September 20, 2024, is a demerger where Mac Charles is the Demerged Company and Embassy Prism Ventures is the Resulting Company. SEBI has also provided comments on the draft scheme (dated August 21, 2025), and BSE's no-objection now clears the path for the company to file the scheme with the National Company Law Tribunal (NCLT). The scheme involves transferring the liabilities of the Demerged Undertaking to the Resulting Company, with shareholders of the Demerged Company potentially receiving redeemable preference shares in lieu of equity shares. The company must comply with various disclosure and procedural conditions laid out by SEBI/BSE before and during the NCLT process.
This is a positive regulatory milestone for the proposed demerger — the demerger scheme has cleared stock exchange and SEBI review, moving it closer to NCLT approval and eventual implementation. Shareholders should watch for the detailed scheme document, share entitlement ratio, and rationale disclosures that will come with the NCLT filing and shareholder notice.