Pronouncement of order by Hon''ble NCLT-Hyderabad bench sanctioning the scheme of Arrangememt for Amalgamation
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The NCLT Hyderabad Bench has pronounced its order on January 21, 2026, sanctioning the Scheme of Arrangement for Amalgamation of Narbada Gems and Jewellery Limited (Transferor Company) with Uday Jewellery Industries Limited (Transferee Company). Both companies are listed on BSE and engaged in the gold jewellery business under common management. The share exchange ratio has been fixed at 4,623 equity shares of Uday Jewellery (face value Rs 10) for every 10,000 equity shares of Narbada Gems (face value Rs 10), with an appointed date of April 1, 2024. Shareholders of both companies approved the scheme with over 99.99% majority at EGMs held on August 21, 2025. The scheme will become effective once the certified copy of the NCLT order is filed with the Registrar of Companies, after which Narbada Gems will stand dissolved without winding up.
Once effective, Narbada Gems shareholders will receive Uday Jewellery shares at the swap ratio and become shareholders of the combined entity. The amalgamation is expected to deliver operational synergies, cost savings and a stronger market position for Uday Jewellery, while Narbada Gems stock will eventually be delisted from BSE.