Notice of Court Convened Meeting of Unsecured Creditors will be held through Video conferencing on Saturday, February 21, 2026 at 03:30 P.M.
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Rudra Ecovation Limited (BSE-listed synthetic yarn maker) has issued a notice for a meeting of its unsecured creditors on February 21, 2026 (3:30 PM, via video conferencing), directed by the NCLT Chandigarh Bench to seek approval for its amalgamation with Shiva Texfabs Limited (un-listed). Under the scheme, the entire business, assets, liabilities and employees of Rudra Ecovation will transfer to Shiva Texfabs on a going-concern basis with an appointed date of April 1, 2025. Shareholders of Rudra Ecovation will receive 0.213 equity shares of Shiva Texfabs (face value Rs 10 each) for every 1 equity share held (face value Rs 1 each); convertible warrants and preference shares (held by the transferee) will also be dealt with under the scheme. Both companies are under common management, and the rationale cites creating an integrated recycled textiles and plastic recycling powerhouse. The scheme still needs NCLT final sanction after the creditor and shareholder meetings.
If approved, Rudra Ecovation shareholders will end up holding shares of the currently un-listed Shiva Texfabs, which would need to be brought to listing — share exchange ratio of 0.213:1 implies significant dilution relative to face value and effectively values Rudra shares at roughly one-fifth of what Shiva Texfabs shares would carry. The stock could see volatility around the creditor and shareholder vote outcomes and the eventual NCLT approval.