NCC Limited has informed the Exchange regarding 'Update on the Adjourned Meeting of the Secured Creditors of The Company in connection with the Scheme of Arrangement between NCC Infrastructure Holdings Limited (Transferor Company) and NCC Limited (Transferee Company)
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NCC Limited held an NCLT-convened adjourned meeting of its Secured Creditors on 16th June 2025 to consider a Scheme of Arrangement between NCC Infrastructure Holdings Limited (Transferor) and NCC Limited (Transferee). Ten secured creditors, representing around 66.82% of total outstanding debt by value and part of the Working Capital Consortium, attended the meeting. These creditors requested an adjournment, citing that they are still awaiting approvals from their respective internal approving authorities. Following their unanimous request, the Chairman adjourned the meeting to Thursday, 14th August 2025 at 11:30 a.m.
The scheme's approval process has been pushed back by about two months, but the adjournment is procedural and not a rejection. Shareholders should watch the next meeting date for an outcome, as this merger could streamline NCC's infrastructure holding structure once approved.