Submission of certified copy of Rectification order passed by the Hon''ble National Company Law Tribunal, Allahabad Bench in connection with sanction of Composite Scheme of Arrangement
TRIVENI · price
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Triveni Engineering & Industries Ltd has submitted a certified copy of the NCLT Allahabad Bench Rectification Order dated May 18, 2026, which corrects three inadvertent errors in the original May 7, 2026 order sanctioning the Composite Scheme of Arrangement. The scheme involves two corporate actions: (1) amalgamation of subsidiary Sir Shadi Lal Enterprises Limited into Triveni Engineering with a share exchange ratio of 137:100 (Sir Shadi Lal:Triveni), and (2) demerger of the PTB (Power Transmission & Belting/Gears & Defence) business into wholly-owned subsidiary Triveni Power Transmission Limited. The rectifications correct references to company numbers and delete certain directions that didn't align with the scheme's terms. Both actions received overwhelming shareholder and creditor approval (98-100% in favour). The rectification order is now part of the original sanction order, finalising NCLT approval for the restructuring.
The NCLT has now formally corrected and finalised the scheme sanction, removing the last legal obstacle. Implementation can now proceed pending ROC filing and other procedural steps. Shareholders of Sir Shadi Lal Enterprises will receive Triveni Engineering shares as per the 137:100 exchange ratio, while Triveni Engineering shareholders will receive shares in the demerged entity.