MCIL- Notice of the Extra-Ordinary General Meeting scheduled to be held on 25.02.2026 pursuant to NCLT Order with respect to Scheme of Arrangement.
MCCHRLS-B · price
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Mac Charles (India) Limited has called an Extra-Ordinary General Meeting on February 25, 2026, ordered by the NCLT Bengaluru Bench to seek shareholder approval for a Scheme of Arrangement between itself (the Demerged Company) and Embassy Prism Ventures Limited (the Resulting Company) under Sections 230-232 of the Companies Act, 2013. A share-entitlement ratio for the demerger was determined by SSPA & Co. in a valuation report dated September 13, 2024, and a fairness opinion was issued by Corpwis Advisors on the same date. BSE issued its observation letter (no-objection) on August 21, 2025, and NCLT passed orders on November 21, 2025 and January 12, 2026 to convene the shareholder meeting. The resolution requires approval by three-fourths in value of equity shareholders voting, along with a majority of public shareholders voting in favour. Remote e-voting runs from February 21 to February 24, 2026, with a cut-off date of February 18, 2026 for eligibility.
Shareholders are being asked to vote on a proposed demerger that would reorganise Mac Charles' business by moving part of it into Embassy Prism Ventures Limited. Approval at this EGM is a key step but still subject to final NCLT sanction, and the entitlement ratio (from the September 2024 valuation) will determine what shareholders receive.