Paradeep Phosphates Limited has informed the Exchange regarding Proceedings of Court Convened General Meeting held on Jun 02, 2025
PARADEEP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Paradeep Phosphates Limited held two NCLT-ordered meetings on June 2, 2025 via video conferencing — one for equity shareholders (11:00–11:18 AM) and one for unsecured creditors (2:00–2:08 PM) — to consider a proposed composite scheme of arrangement. Under the scheme, Paradeep Phosphates (Transferee Company) will absorb Mangalore Chemicals & Fertilizers Limited (Transferor Company), along with their respective shareholders and creditors. The meetings had requisite quorum, remote e-voting was conducted from May 28 to June 1, 2025, and shareholders raised queries which the management addressed. Voting results will be declared within two working days based on the scrutinizer's report.
This is a procedural milestone in the NCLT-driven merger where Paradeep Phosphates will absorb Mangalore Chemicals & Fertilizers. Shareholders should watch for the voting outcome, which will determine whether the scheme moves forward to the next NCLT approval stage, potentially reshaping the company's scale and capital structure.