Further to our intimation dated 07th June 2025 and 09th June 2025, this is to inform you that the equity shareholders of the Company at their meeting convened pursuant to the directions of the Hon ble Company Law Tribunal, Mumbai Bench and held on Monday, 14th July 2025 at 11:30 A.M. IST, have by requisite majority (i.e. special resolution) approved the resolution stated in the Notice dated 06th June 2025 for the Scheme of Arrangement between SKF India Limited and SKF India (Industrial) Limited and their respective shareholders and creditors.
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SKF India's equity shareholders, at an NCLT-convened meeting held on 14 July 2025, approved by special resolution the Scheme of Arrangement between SKF India Limited (Demerged Company) and SKF India (Industrial) Limited (Resulting Company). Of the 4.94 crore shares that voted, 99.9995% were in favour and only 186 shares (0.0005%) voted against. Promoters (2.6 crore shares), public institutions (1.52 crore shares), and public non-institutions all voted overwhelmingly in support. BSE and NSE had already issued their observation letters on the scheme on 28 March 2025. The scheme now awaits final sanction from the NCLT Mumbai Bench to become effective.
The near-unanimous shareholder approval clears a major hurdle for the proposed demerger/restructuring into a separate industrial entity, with the path now dependent on NCLT's final order. Investors should watch for the NCLT sanction order and the effective date, after which the share entitlement under the scheme will be determined.