Announced Wed, 29 Jul · 11:37 IST
Unsecured creditors approve Palco Metals-P alco Recycle amalgamation scheme
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
+1.7%1-day move
₹137.60
prior close
₹131.30
base price
In-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
————+1.7+1.7+1.7+3.2+4.6+2.5+4.4+6.8——
Up moveDown movePending
AI summary
NCLT Ahmedabad directed a meeting of unsecured creditors of Palco Metals Limited on July 27, 2026 to vote on the Scheme of Amalgamation with Palco Recycle Industries Limited under Sections 230-232 of the Companies Act, 2013. Unsecured creditors holding 21.32 crore in debt voted, with 93.33 percent by value approving the scheme and zero voting against. The Scrutinizer confirmed the resolution was passed with the required statutory majority.
Likely market impact
Key creditor approval secured for the merger; scheme now moves to next NCLT stage, bringing Palco Metals and Palco Recycle closer to amalgamation.