Observation letter as received from BSE/SEBI in relation to Scheme of Merger with No Adverse remarks between Scan Projects Limited ( Transferee Company) and Chanderpur Industries Pvt Limited ....
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Scan Projects Limited has received an observation letter dated January 6, 2026 from BSE Limited with 'no adverse observations' on its proposed Scheme of Merger with Chanderpur Industries Private Limited (Transferor Company), where Scan Projects is the Transferee Company. The merger scheme was approved by the Board on September 18, 2025 and is being processed under Sections 230-232 of the Companies Act, 2013. SEBI/BSE have provided 17 observations/compliance points covering disclosures to shareholders, valuation reports, share swap ratio, financials, and procedural requirements, but have raised no objections to the scheme moving forward. The observation letter is valid for six months, within which Scan Projects must file the scheme with the NCLT. The scheme remains subject to NCLT approval, shareholder and creditor consent, and other regulatory clearances.
This is a procedural milestone — regulatory clearance from BSE/SEBI removes a key hurdle but the merger still requires NCLT and shareholder approvals before completion. Shareholders should watch for the share swap ratio, valuation details, and the NCLT filing in the coming months.