Intimation regarding Pronouncement of Order by the Hon''ble National Company Law Tribunal, Allahabad Bench
TRIVENI · price
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On the reaction day the stock moved 0.5 pts less than Nifty Microcap 250 and 1.2 pts more than its Sugar peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The Hon'ble NCLT Allahabad Bench has pronounced an order sanctioning the Composite Scheme of Arrangement involving Triveni Engineering & Industries Ltd, Sir Shadi Lal Enterprises Ltd, and Triveni Power Transmission Ltd. This is a voluntary corporate restructuring under Sections 230-232 of the Companies Act, 2013, not an insolvency proceeding. The scheme remains subject to fulfilment of conditions in Clause 7 before becoming effective. The company will intimate the effective date to the stock exchanges once all conditions are met.
NCLT approval of the scheme is a positive step toward completing the corporate restructuring. Shareholders should monitor for the effective date announcement, which will trigger the actual implementation of the arrangement.