Sammaan Capital Limited has informed the Exchange regarding 'Voting Result and Scrutinizer Report on National Company Law Tribunal, New Delhi Bench ( NCLT ), convened meeting of the Secured Creditors of Sammaan Capital Limited ( the Company ) held on Tuesday, June 10, 2025.For details, refer attachment.'.
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Sammaan Capital Limited held an NCLT-convened meeting of its Secured Creditors on June 10, 2025, via video conferencing, to seek approval for a Scheme of Arrangement under Sections 230-232 of the Companies Act. The scheme proposes to merge six group companies (Sammaan Collection Agency, Sammaan Sales, Sammaan Investmart Services, Indiabulls Capital Services, Sammaan Advisory Services, and Sammaan Insurance Advisors) into Sammaan Capital Limited. Quorum of 144 secured creditors was not met initially (only 3 attended), so the meeting was adjourned by 30 minutes, after which 16 secured creditors participated. All 26 secured creditors who voted (representing ₹20,505.9 crore, or 56.887% of total secured debt of ₹36,047 crore) voted 100% in favour of the scheme. The resolution was declared passed with the requisite three-fourths majority. The scheme still requires NCLT sanction and other regulatory approvals before becoming effective.
This is a positive procedural milestone for the company's internal restructuring and consolidation of six group entities. Approval from secured creditors removes a key hurdle, though the scheme still requires final NCLT sanction and other regulatory clearances before becoming effective, leaving some execution risk remaining.