Please find enclosed Notice of Meeting of Equity Shareholders which is schedule to be held on 21.08.2025 at 12:30 p.m via VC/OAVM
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Uday Jewellery Industries Limited has sent the notice for an NCLT-ordered meeting of its equity shareholders, scheduled for Thursday, August 21, 2025 at 12:30 PM via video conferencing. The purpose is to seek shareholder approval for the proposed Scheme of Arrangement for Amalgamation of Narbada Gems and Jewellery Limited (Transferor Company) into Uday Jewellery Industries Limited (Transferee Company), under Sections 230–232 of the Companies Act, 2013. The NCLT Hyderabad Bench has directed this meeting through orders dated June 13, 2025 and July 2, 2025. Both companies are listed on BSE (scrip code 539518 for Uday Jewellery), and BSE has already given its 'no objection' via an observation letter dated March 20, 2025. A valuation report by Axiology Valuetech and a fairness opinion by Corporate Professionals Capital (both dated September 16, 2024) support the scheme. The cut-off date for e-voting eligibility is August 14, 2025, with remote e-voting open from August 18 to August 20, 2025.
If shareholders approve the scheme at the August 21 meeting, the amalgamation of Narbada Gems and Jewellery into Uday Jewellery will move a step closer to NCLT final sanction, potentially expanding Uday Jewellery's scale in the gems and jewellery space. Shareholders should review the share-swap ratio, valuation report, and fairness opinion before voting, as approval will reshape the shareholding pattern of the combined entity.