Vijaya Diagnostic Centre Limited has informed the Exchange about proceedings of NCLT convened meeting of unsecured creditors
VIJAYA · price
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Vijaya Diagnostic Centre Limited held an NCLT-ordered meeting of its unsecured creditors on April 25, 2025, via video conferencing. The purpose was to seek approval for the Scheme of Amalgamation with Medinova Diagnostic Services Limited (the transferor company merging into Vijaya). The NCLT Hyderabad bench had directed this meeting in its March 5, 2025 order. The meeting had the required quorum, and KFintech provided e-voting facilities both remotely (April 21-24) and at the meeting. Management explained the rationale and benefits of the scheme and assured creditors that their interests would not be adversely affected. The meeting concluded at 1:25 PM, with the scrutinizer's report and voting results to be declared and disclosed to the stock exchanges subsequently.
This is a routine procedural step in the amalgamation process, not an insolvency event. The actual outcome for shareholders depends on the yet-to-be-declared voting results of the unsecured creditors. If the scheme is ultimately approved by the NCLT, Medinova Diagnostic Services will merge into Vijaya Diagnostic Centre, potentially expanding its diagnostic services footprint.