Announcement under Regulation 30 (LODR)- Receipt of updated order on Scheme of Arrangement
MCCHRLS-B · price
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Awaiting price reaction for this filing.
Mac Charles (India) Ltd has received an updated order from the NCLT Bengaluru Bench regarding its Scheme of Arrangement with Embassy Prism Ventures Ltd under Sections 230-232 of the Companies Act. The tribunal acknowledged clerical errors in its earlier November 21, 2025 order, corrected the shareholder count to 7,591 (including 2 promoters), and rescheduled the equity shareholders meeting from February 9, 2026 to February 25, 2026. The company has four secured creditors with exposures aggregating about Rs. 1,105 crores, of which three creditors (99.82% by value) have already consented, so their meeting is being dispensed with. The notice will be published in The Indian Express (English) and Kannada Prabha (Kannada) in Bengaluru instead of being sent by post.
This is a procedural update that moves the demerger process forward but does not change its economics. Shareholders should watch for the February 25, 2026 meeting, which will be the key event to approve or reject the scheme. No immediate impact on stock price is expected from this filing alone.