Please find enclosed herewith Scrutinizer Report for Court Convened Meeting of Equity Shareholders and Unsecured Creditors through VC/OAVM.
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Prima Plastics Ltd held two Court Convened Meetings (CCM) on September 27, 2025, as directed by the NCLT Ahmedabad Bench, to approve a Scheme of Arrangement between Prima Plastics (the Demerged Company) and Prima Innovation Limited (the Resulting Company) under Sections 230–232 of the Companies Act. The equity shareholders' meeting was held at 11:00 AM and the unsecured creditors' meeting at 3:00 PM, both via video conferencing. Equity shareholders approved the scheme overwhelmingly, with 65,16,545 votes (99.99997%) in favour versus just 2 votes against, representing 59.24% of outstanding shares; the promoter group voted 100% in favour (64,09,744 of their 64,09,955 shares). Unsecured creditors approved the scheme unanimously, with 41 creditors (representing Rs. 2,40,86,656 in outstanding amount) voting 100% in favour. The scheme still requires final NCLT sanction before it can become effective.
This is a major milestone toward completing the demerger/spin-off into Prima Innovation Limited, with near-unanimous support from both shareholders and creditors. Shareholders should watch for the next NCLT hearing date and any disclosure on share entitlement ratio in the resulting company once the scheme receives final approval.