Please find attached Final Order by the Hon''ble NCLT, Chandigarh Bench, approving the Scheme of Arrangement.
Awaiting price reaction for this filing.
The NCLT Chandigarh Bench has pronounced its final order on August 29, 2025, approving a composite Scheme of Arrangement involving 20 Indiabulls group companies. Under the scheme, Dhani Services Ltd and Indiabulls Enterprises Ltd, along with 15 other group entities, will be amalgamated into Yaari Digital Integrated Services Ltd, with the amalgamating companies being automatically dissolved. Separately, the Real Estate Business Undertaking of India Land Hotels Mumbai Pvt Ltd will be demerged into Indiabulls Pharmacare Ltd, with shareholders receiving Yaari Digital shares as consideration. Shareholders and creditors approved the scheme overwhelmingly, with equity shareholders of the key companies voting over 99.6% in favour. The appointed date is April 1, 2023, and the scheme will become effective once the certified copy of the NCLT order is filed with the Registrar of Companies.
Once effective, Indiabulls Enterprises Ltd will stand dissolved and merged into Yaari Digital Integrated Services Ltd, meaning IEL shareholders will receive Yaari Digital shares in exchange. Shareholders should expect the share swap ratio and record date to be notified soon, and watch for filing of the certified NCLT order with the RoC, which will trigger the actual implementation.