Pursuant to First motion application filed by the company, NCLT pronounced its order on 13.06.2025 for convening the meeting of Equity shareholders.
Awaiting price reaction for this filing.
Narbada Gems and Jewellery Ltd informed the stock exchanges that the National Company Law Tribunal (NCLT) has pronounced its order on 13.06.2025 for convening a meeting of equity shareholders. This order follows a first motion application filed by the company itself. A first motion application is typically filed by a company before the NCLT when it proposes a scheme such as a merger, amalgamation, demerger, or capital restructuring that requires shareholder and tribunal approval. The next step will be the actual shareholders' meeting where they will vote on the proposed scheme. The specific details of the scheme being proposed are not disclosed in this announcement.
This is a procedural step towards a corporate restructuring or scheme of arrangement. Shareholders should watch for the formal notice of the meeting and the explanatory statement detailing what is being proposed, as their vote will decide the outcome. Near-term stock movement may be muted until the specifics of the scheme are revealed.