Swan Defence and Heavy Industries Limited has informed the Exchange regarding Notice of Court Convened General Meeting to be held on May 25, 2026
SWANDEF · price
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Swan Defence and Heavy Industries Limited (formerly Reliance Naval and Engineering Limited) has issued the NCLT-directed notice convening a meeting of its equity shareholders on Monday, May 25, 2026 at 10:30 AM (IST) via video conferencing. The meeting will consider and approve the proposed Scheme of Arrangement and Amalgamation between Triumph Offshore Private Limited (Transferor Company) and Swan Defence (Transferee Company) under Sections 230-232 read with Sections 66 and 52 of the Companies Act, 2013. The NCLT Ahmedabad Bench, through its order dated April 13, 2026 in Company Application C.A.(CAA) No. 17(AHM)2026, directed the convening of this meeting. The cut-off date for determining eligible shareholders is May 18, 2026, with remote e-voting open from May 22 to May 24, 2026. The notice includes a valuation report by Pawan Shivkumar Poddar (Registered Valuers) and a fairness opinion from Navigant Corporate Advisors Limited.
Shareholders must vote on the amalgamation scheme by May 24, 2026. The scheme, if approved by the requisite shareholder majority, will still require subsequent NCLT sanction and other regulatory approvals before becoming effective, and it could change the shareholding pattern and capital structure of the listed company.