Receipt of Order of NCLT directing meetings of the Equity Shareholders, Secured Creditors and Unsecured Creditors
Awaiting price reaction for this filing.
Sir Shadi Lal Enterprises Ltd (SSEL) has received an order from the NCLT Allahabad Bench dated October 17, 2025 (rectified on October 28, 2025) directing meetings of its equity shareholders, secured creditors and unsecured creditors to approve a Composite Scheme of Arrangement. Under the scheme, SSEL (a subsidiary of Triveni Engineering & Industries Ltd, TEIL, focused on sugar and ethanol) will be amalgamated into TEIL, while TEIL's Power Transmission Business (PTB) will be demerged into a new entity, Triveni Power Transmission Ltd (TPTL). The share exchange ratio is 100 TEIL shares for every 137 SSEL shares held, and the demerger entitlement ratio for the PTB into TPTL is 1 TPTL share for every 3 TEIL shares held. SSEL's shareholder, secured creditor and unsecured creditor meetings are scheduled for November 30, 2025; TEIL's meetings have been rescheduled to December 7, 2025. BSE and NSE had earlier issued no-objection letters to the scheme. The scheme remains subject to further regulatory approvals.
If approved, SSEL shareholders will become shareholders of TEIL at the fixed exchange ratio of 100:137, and SSEL will stand dissolved without winding up. The stock could see some action around the meeting and approval outcomes, but until the scheme is fully cleared by NCLT and other regulators, the structural shift is not yet effective.