Dear Sir/Madam, Please find the attachment herewith Notice of Court Convened Meeting Held as on June, 15th 2026.
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Navneet Education Limited has called an equity shareholder meeting on June 15, 2026 to approve a Composite Scheme of Arrangement with its wholly-owned subsidiary Indiannica Learning Private Limited. The scheme involves two parts: (1) Demerger of Indiannica Learning's publishing business (CBSE/ICSE curriculum) into Navneet Education to consolidate publishing operations under one entity, and (2) Capital reduction of Indiannica Learning to eliminate a debit balance of INR 1,26,77,45,948 in its reserves as of March 31, 2025. The NCLT Mumbai Bench passed an order on April 24, 2026 directing this meeting. Shareholders can vote via remote e-voting from June 11-14, 2026, or during the VC meeting on June 15. The scheme requires approval by 3/4th majority of shareholders present and voting.
This is an intra-group restructuring with limited direct impact on Navneet Education shareholders. The demerger consolidates complementary publishing businesses which may create operational synergies and simplify the group structure. Indiannica Learning shareholders (i.e., Navneet Education as parent) will ultimately hold the combined entity.