Mangalam Drugs And Organics Limited has informed the Exchange regarding 'Intimation of Notice of Tribunal Convened Meeting of Unsecured Creditors to be held on 12th August, 2025 at 11:00a.m.'.
MANGALAM · price
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The NCLT Mumbai Bench, via its order dated June 30, 2025 in Company Application No. C.A.(CAA)/67/MB/C-III/2025, has directed Mangalam Drugs and Organics Limited (MDOL) to hold a meeting of its unsecured creditors on August 12, 2025 at 11:00 AM via video conferencing. The purpose is to consider and approve a Scheme of Merger by Absorption of two group companies — Mangalam Laboratories Private Limited (MLPL) and Shri JB Pharma Private Limited (SJPPL) — into MDOL, followed by their dissolution without winding up. Both BSE (Jan 1, 2025) and NSE (Jan 2, 2025) have already issued no-adverse-observation/no-objection letters for the scheme. Remote e-voting will be open from August 8 (9 AM) to August 11, 2025 (5 PM), with voting rights proportionate to each creditor's outstanding amount as on the December 31, 2024 cut-off date.
This is a procedural step in a group-level corporate restructuring. If creditors and the NCLT approve the scheme, MDOL will absorb MLPL and SJPPL and consolidate related pharma businesses under one listed entity. There is no indication of financial distress, insolvency, or change in business operations for existing shareholders.