We wish to inform you that the Hon''ble National Company Law Tribunal (NCLT), Ahmedabad bench on July 25, 2025, has pronounced the order, on first motion application of the Company in relation ....
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Prima Plastics Ltd has informed BSE that the NCLT Ahmedabad bench pronounced its order on July 25, 2025 on the company's first motion application relating to its proposed Scheme of Arrangement (demerger) with Prima Innovation Limited. The tribunal has directed the company to hold court-convened meetings of equity shareholders and unsecured creditors on September 27, 2025. After these meetings, the company will file the second motion application with the NCLT to seek final approval of the scheme. Prima Plastics is in the process of preparing the notice and explanatory statement under Sections 230-232 of the Companies Act, which will be circulated within prescribed timelines. This is a continuation of an earlier intimation dated November 12, 2024 regarding the same scheme.
This is a routine procedural step forward in the demerger process, not a final approval. The scheme still requires shareholder and creditor approval at the September 27 meetings, followed by NCLT's final sanction at the second motion stage. Near-term impact on shareholders is neutral; the eventual restructuring could reshape the company's structure if fully approved.