The India Cements Limited has informed the Exchange regarding 'Outcome of the meeting of the unsecured creditors of The India Cements Limited convened pursuant to the directions of the Hon'ble National Company Law Tribunal, Chennai Bench'.
INDIACEM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The India Cements held a meeting of its unsecured creditors on September 27, 2025, as directed by the NCLT Chennai Bench, to seek approval for a scheme of amalgamation of four wholly-owned subsidiaries — ICL Financial Services, ICL International, ICL Securities, and India Cements Infrastructures — into the parent company. The resolution was passed with 100% of valid votes in favor, with all 72 unsecured creditors who participated (representing ₹421.77 crore, or 51.51% of the ₹818.88 crore outstanding unsecured debt) supporting the scheme. No votes were cast against the resolution, though 11 votes valued at ₹2.10 crore were declared invalid due to lack of proper authorization documents. The scheme will now move to the NCLT for final sanction under Sections 230-232 of the Companies Act, 2013.
This is a routine internal restructuring step to consolidate four subsidiaries into The India Cements, with strong creditor support signaling low risk of delay at the NCLT hearing. Shareholders are unlikely to see any immediate financial impact, though successful completion could simplify the group structure and marginally improve operational efficiency.