Swan Defence and Heavy Industries Limited has informed the Exchange about Notice of the NCLT Court Convened Shareholders Meeting for the Amalgamation/Merger
SWANDEF · price
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Swan Defence and Heavy Industries Limited (formerly Reliance Naval and Engineering Limited) has issued a notice for an NCLT-convened shareholders meeting scheduled for May 25, 2026 at 10:30 AM IST via video conferencing. The meeting will consider the Scheme of Arrangement and Amalgamation where Triumph Offshore Private Limited (TOPL) will merge into Swan Defence as the Transferee Company. This is under Sections 230-232 read with Sections 66 and 52 of the Companies Act, 2013. Remote e-voting runs from May 22-24, 2026, with May 18, 2026 as the cut-off date for eligible voters. The scheme requires approval from equity shareholders and subsequent NCLT sanction. Supporting documents including valuation report, fairness opinion, and audited financials are attached.
Shareholders should participate in the e-voting as the amalgamation will affect Swan Defence's capital structure and consolidate TOPL's operations. The scheme requires majority shareholder approval before final NCLT sanction.