Disclosure on receipt of First Motion NCLT Order w.r.t. Scheme of Arrangement.
MCCHRLS-B · price
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Mac Charles (India) Ltd has received the First Motion order from the NCLT Bengaluru Bench on January 6, 2026, in connection with its proposed Scheme of Arrangement with Embassy Prism Ventures Ltd under Sections 230-232 of the Companies Act, 2013. The scheme, which appears to be a demerger arrangement (Mac Charles as the Demerged Company and Embassy Prism Ventures as the Resulting Company), had its first motion application filed on October 1, 2025. The company has identified factual discrepancies in the order and is in the process of getting them rectified. Due to lack of time, it is also seeking an extension from the NCLT for convening the equity shareholders' meeting as originally directed.
This is a procedural update on the ongoing demerger scheme. The factual discrepancies and extension request may cause a short delay in shareholder voting and overall timeline, but the scheme remains in progress. Investors should watch for further updates on the rectification and the revised meeting date.