Intimation of receipt of certified copy of Order sanctioning the Scheme of Arrangement by the Hon''ble National Company Law Tribunal, Allahabad Bench
TRIVENI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Triveni Engineering & Industries Ltd has received the certified copy of the NCLT Allahabad Bench order dated May 7, 2026, sanctioning a Composite Scheme of Arrangement involving three entities. The scheme has two parts: (1) amalgamation of Sir Shadi Lal Enterprises Limited (61.77% subsidiary) into Triveni Engineering, with share exchange ratio of 137:100 (for every 137 shares of Sir Shadi Lal of INR 10 face value, shareholders receive 100 Triveni Engineering shares of INR 1 face value), effective April 1, 2025; and (2) demerger of the PTB (gears and defence) undertaking into Triveni Power Transmission Limited (wholly-owned subsidiary), with share ratio of 3:1 (for every 3 Triveni shares, shareholders get 1 share of Resulting Company), effective April 1, 2026. The scheme was approved by overwhelming majority of shareholders and creditors. The company noted an inadvertent error in the order and is seeking rectification.
Shareholders of Triveni will receive shares in the new Resulting Company (Triveni Power Transmission) upon demerger completion, while Sir Shadi Lal shareholders will receive Triveni Engineering shares upon amalgamation. The restructuring separates the PTB business into a distinct listed entity.