Publication of advertisement for convening the meeting of equity shareholders, secured creditors and unsecured creditors of the Company to be held pursuant to the directions of the Bengaluru ....
Awaiting price reaction for this filing.
Mangalore Chemicals & Fertilizers Ltd (MCFL) has published newspaper advertisements in Business Standard (English) and Kannada Prabha (Kannada) on 15th May 2025, calling separate meetings of its equity shareholders, secured creditors, and unsecured creditors. These meetings have been directed by the Bengaluru Bench of the National Company Law Tribunal (NCLT) in connection with Company Application No. C.A.(CAA) No. 06/BB/2025. The meetings relate to a proposed Scheme of Arrangement between MCFL (Transferor Company) and Paradeep Phosphates Limited (Transferee Company), along with their respective shareholders and creditors. The disclosure is made under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015.
This is a procedural step in the ongoing merger/amalgamation process between MCFL and Paradeep Phosphates. Shareholders and creditors will get to vote on the scheme at the NCLT-convened meetings, which is a key milestone before the scheme can be approved and implemented.