Scrutinizer Report and Voting Results - NCLT Convened Unsecured Creditors Meeting

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Nifty Microcap 250market · in no size index; the smallest one is used+2.4%-2.7% vs market

Other Textile Products peers, median of 170sector+1.8%-2.1% vs sector

On the reaction day the stock moved 2.7 pts less than Nifty Microcap 250 and 2.1 pts less than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Sri Lakshmi Saraswathi Textiles (Arni) Limited held an NCLT-convened meeting of unsecured creditors on April 4, 2025 via video conferencing to seek approval for a Scheme of Arrangement (demerger) with SLST Industries Limited. Out of 105 unsecured creditors on record (with total unsecured debt of about ₹76.73 crore), 58 attended the meeting. The resolution approving the demerger scheme was passed unanimously with 56,54,27,007 votes cast in favor (100%) and zero against. The scrutinizer certified the voting as fair and transparent, and the resolution cleared the requisite majority threshold required under the Companies Act, 2013.

Likely market impact

Positive step forward for the company's restructuring plan as the demerger scheme has secured unsecured creditors' approval. The scheme still requires final sanction from the NCLT Chennai Bench before it can become effective for shareholders.