TVS Motor Company Limited has informed the Exchange regarding Proceedings of the meeting of the Equity Shareholders and Unsecured Creditors of TVS Motor Company Limited convened on Saturday, 12th April, 2025 pursuant to the order of Hon'ble National Company Law Tribunal, Chennai Bench
TVSMOTOR · price
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Awaiting price reaction for this filing.
TVS Motor Company held NCLT-ordered meetings of equity shareholders (10:00 AM) and unsecured creditors (11:30 AM) on April 12, 2025, via video conferencing, to consider a proposed Scheme of Arrangement between the company and its shareholders under Sections 230-232 of the Companies Act, 2013. The equity shareholders' meeting concluded at 10:37 AM and the creditors' meeting at 11:50 AM. Shareholders who spoke at the meeting supported the scheme, and the CFO briefed them about the proposed issue of preference shares by way of bonus to equity shareholders. Remote e-voting was held from April 9 to April 11, 2025, with additional e-voting at the meeting. Detailed voting results and the scrutinizer's report will be filed separately.
This is a procedural update on the ongoing NCLT-driven scheme process — likely a bonus issue of preference shares to equity shareholders. No immediate impact on share price, but shareholders should watch for the voting results, which will indicate whether the scheme moves forward for final NCLT and regulatory approvals.