Intimation of receipt of Order of Hon''ble NCLT, Mumbai Bench for convening meeting of Shareholders of the Company.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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The NCLT Mumbai Bench has directed Parshva Enterprises Ltd to convene a meeting of its equity shareholders within 60 days to approve a scheme of arrangement for the demerger of its Jewellery business into Simandhar Impex Limited, its wholly owned subsidiary, under Sections 230-232 of the Companies Act, 2013. The appointed date for the scheme is 1st April 2024. Parshva currently operates three businesses — Jewellery, Real Estate, and Cut & Polished Diamonds — and post-demerger will retain the latter two, with the resulting company (Simandhar Impex) intended to be separately listed. The company has 740 equity shareholders holding approximately 1.02 crore shares (paid-up capital of Rs. 10.19 crore). BSE had already issued its observation letter dated 5th February 2025, and the scheme has consent from all shareholders, secured and unsecured creditors of Simandhar Impex, while only Parshva's public shareholders need to vote.
Shareholders will get a chance to vote on the proposed demerger within 60 days. If approved, the Jewellery business will spin off into a separately listed entity, which could unlock independent valuation and sharper focus for both businesses. Near-term, watch for the meeting date announcement and the voting outcome.