Summary of Proceedings of Meeting of Unsecured Creditors of Sammaan Capital Limited ("the Company") held on Tuesday, June 10, 2025 pursuant to the directions of National Company Law Tribunal, ....
Awaiting price reaction for this filing.
Sammaan Capital Limited held a meeting of its unsecured creditors on June 10, 2025, as directed by the NCLT New Delhi Bench, to seek approval for a Scheme of Arrangement involving the amalgamation of six group entities (Sammaan Collection Agency, Sammaan Sales, Sammaan Investmart Services, Indiabulls Capital Services, Sammaan Advisory Services, and Sammaan Insurance Advisors) into Sammaan Capital Limited under Sections 230-232 of the Companies Act, 2013. The required quorum of 22 unsecured creditors was not met initially, so the meeting was adjourned by 30 minutes and commenced at 10:31 AM. Remote e-voting ran from June 2 to June 9, 2025, with additional e-voting at the meeting. No unsecured creditor registered as a speaker to raise questions on the scheme. The scrutiniser's report on voting results is to be declared within two working days, and the chairperson's report will be filed with the NCLT within a week.
This is a procedural update on a group restructuring; the amalgamation outcome is not yet confirmed as voting results are pending. Investors should wait for the scrutiniser's report and subsequent NCLT approval before drawing conclusions on the final structure or any share-swap implications.