Announced Thu, 18 Jun · 11:28 IST
NCLT admits first motion application for Palco Metals arrangement scheme
Regulatory & Legal View source PDF
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-6.3%1-day move
₹142.00
prior close
₹140.00
base price
In-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.0+0.0+2.0+2.0-6.3-4.9-8.5-6.5-5.9-7.5-6.8-2.2——
Up moveDown movePending
AI summary
Palco Metals has informed BSE that the NCLT Ahmedabad Bench has admitted the First Motion Application filed in relation to the scheme of arrangement between Palco Metals Limited and Palco Recycle. Admitting the first motion means the tribunal has accepted the initial petition and the scheme will now move forward to the next stage of hearings. Details of the scheme and the next hearing date were not disclosed in this filing.
Likely market impact
Early step in the arrangement process getting court clearance; final approval and timeline will depend on upcoming NCLT hearings.