Submission of certified copy of Rectification Order passed by Hon''ble National Company Law Tribunal, Allahabad Bench in connection with the sanction of Composite Scheme of arrangement
Awaiting price reaction for this filing.
Sir Shadi Lal Enterprises Limited (SSL) has submitted a Rectification Order from NCLT Allahabad Bench correcting minor errors in the original May 7, 2026 order sanctioning a Composite Scheme of Arrangement. The scheme involves SSL amalgamating into Triveni Engineering & Industries Limited (TEIL), while TEIL's PTB (gears and defence) business demerges into Triveni Power Transmission Limited. Under the share swap ratio, SSL shareholders receive 100 equity shares of TEIL for every 137 shares held in SSL. The NCLT approved the scheme with overwhelming shareholder and creditor approval (over 98% in favour). The rectification corrects references to company numbers in the original order and deletes certain directions that were inconsistent with the scheme's terms.
This filing confirms the NCLT has sanctioned the scheme after rectifying clerical errors. SSL shareholders will receive TEIL shares per the swap ratio once the scheme becomes effective. The shares of SSL may see reduced trading activity as the company approaches dissolution upon amalgamation.