Please find attached the voting results and scrutinizer''s report of the Hon''ble NCLT Bengaluru Bench convened meetings of the equity shareholders, secured and unsecured creditors of the ....
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Mangalore Chemicals & Fertilizers Ltd (MCFL) conducted NCLT-ordered meetings on June 16, 2025 for equity shareholders, secured creditors, and unsecured creditors to vote on its Composite Scheme of Arrangement with Paradeep Phosphates Limited (PPL). Under the scheme, MCFL is the transferor company and PPL is the transferee company. Equity shareholders approved the scheme with 99.99% votes in favour (8.13 crore shares in favour vs just 1,051 against), while public shareholders also approved it with 99.99% support. Secured creditors representing ₹674.40 crores voted 100% in favour, and unsecured creditors also voted 100% in favour. The meetings complied with the NCLT's May 1, 2025 order and SEBI master circular requirements. The resolution now awaits final sanction from the NCLT Bengaluru Bench for the merger to become effective.
This is a major milestone in MCFL's merger into Paradeep Phosphates Ltd — shareholders and creditors have overwhelmingly approved the scheme, so the deal now only needs NCLT's final approval. Once sanctioned, MCFL equity shareholders will likely receive shares of PPL as per the swap ratio, making this a transformative event for the stock.