This is to inform that the Working Committee of the Board of Directors at their meeting held today, have inter alia(i) Noted the receipt of the certified copy of the order dated March 24, 2025, from the Hon ble NCLT, Chennai sanctioning the Scheme(ii) Noted the Appointed date of the Scheme. i.e. April 01, 2024(iii) Noted the Effective date of the Scheme. i.e. April 05, 2025(iv) Approved the Record date for eligible shareholders. i.e. April 21, 2025The meeting of the Working Committee of Board commenced at 12:15 hrs (IST) and concluded at 12:20 hrs (IST).
Awaiting price reaction for this filing.
Rane Brake Lining Limited has received the certified copy of the NCLT Chennai order dated March 24, 2025, sanctioning its Scheme of Arrangement. The scheme has an appointed date of April 01, 2024, and an effective date of April 05, 2025. The Working Committee has also approved a record date of April 21, 2025, to identify eligible shareholders under the scheme. The board meeting concluded within five minutes, indicating a procedural update rather than a new strategic decision.
With the NCLT scheme now sanctioned and effective, shareholders on the record date (April 21, 2025) will be entitled to receive entitlements as per the scheme. Investors should watch for the detailed scheme document (including share entitlement ratio) for clarity on how their holdings will be affected.