Mangalam Drugs And Organics Limited has submitted the Exchange a copy Srutinizers report of Court Convened General Meeting held on August 12, 2025
MANGALAM · price
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Awaiting price reaction for this filing.
Mangalam Drugs and Organics Limited (MDOL) held a Tribunal Convened Meeting (TCM) of its Unsecured Creditors on August 12, 2025, via video conferencing, as directed by the NCLT Mumbai Bench. The resolution seeking approval of the Scheme of Merger by Absorption of Mangalam Laboratories Private Limited (MLPL) and Shri JB Pharma Private Limited (SIPPL) into MDOL was passed with overwhelming support — 37 unsecured creditors holding ₹27.38 crore (98.46% by value) voted in favour, while only 1 creditor holding ₹42.77 lakh (1.54%) voted against. BSE and NSE had already issued observation letters in January 2025. The scrutinizer, K.V. Rao & Co. LLP, confirmed the resolution was duly passed with the requisite majority.
This is a positive step forward for the merger — the company has cleared the unsecured creditors' approval hurdle and the scheme now awaits final NCLT sanction. For shareholders, the merger will consolidate MLPL and SIPPL into MDOL, though the share swap ratio and effective date are not yet disclosed. No open offer trigger is mentioned in this filing.