Sammaan Capital Limited has informed the Exchange regarding 'Notice of Meeting of Secured Creditors of Sammaan Capital Limited (Formerly Known as Indiabulls Housing Finance Limited) ( the Company ) pursuant to Order dated January 27, 2025, of the Hon ble National Company Law Tribunal, New Delhi Bench ( NCLT ), in the matter of scheme of arrangement for amalgamation of six wholly owned subsidiaries with the Company.For details, refer attachment.'.
SAMMAANCAP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Sammaan Capital Limited has notified the exchanges about a meeting of its secured creditors scheduled for June 10, 2025 at 12:00 Noon IST, to be held via video conferencing. This meeting is convened as per an NCLT (National Company Law Tribunal) order dated January 27, 2025, in connection with the scheme of arrangement to amalgamate six wholly owned subsidiaries into the company. The e-voting window is open from June 2 to June 9, 2025, with a cut-off date of March 31, 2025. KFin Technologies has been engaged to facilitate the remote e-voting and meeting process.
This is a procedural step in the company's internal restructuring to merge six subsidiaries into itself. Secured creditors will vote on the amalgamation scheme. Outcome of the creditors' meeting and subsequent NCLT approval could streamline the company's operations, but no immediate material impact on shareholders is expected.