MANAKCOAT · price
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Manaksia Coated Metals & Industries Limited has convened a virtual shareholder meeting on 8th June 2026 to seek approval for a Scheme of Merger. The Transferor Company is JPA Snacks Private Limited, a wholly-owned subsidiary of Manaksia Coated. The merger aims to consolidate business under a single entity, streamline the corporate structure, and achieve administrative and operational convenience. The scheme is pursuant to an NCLT Kolkata Bench order dated 24th April 2026 (CAA No. 5/(KB)/2026). Separate meetings for unsecured and secured creditors are also scheduled on 9th June 2026. Remote e-voting runs from 4th June to 7th June 2026, with a cut-off date of 1st June 2026. The scheme remains subject to NCLT sanction after shareholder/creditor approval.
If approved, the merger will simplify Manaksia Coated's group structure by absorbing its wholly-owned subsidiary, potentially strengthening its financial position and reducing compliance overhead. Shareholders should participate in the vote as the exchange ratio and dilution details are embedded in the full Scheme document.