Shareholders and creditors approve composite amalgamation and arrangement scheme

Marathon Nextgen Realty shareholders and unsecured creditors have approved a composite scheme of amalgamation and arrangement involving six related entities - Matrix Water Management, Sanvo Resorts, Marathon Realty, Matrix Enclaves, Matrix Land Hub, and Marathon Energy. 99.81 percent of equity shareholders voted in favor (4.92 crore shares polled), and 100 percent of unsecured creditors backed it (about Rs 1.10 crore). Meetings were convened under NCLT Mumbai Bench orders. The scheme now awaits final NCLT sanction, after which promoter holding will be about 74.61 percent.