Key Details
Symbol (NSE): EFCIL
Corporate Action: Withdrawal of Proposed Scheme of Arrangement for Demerger
Record Date: Not Specified
Nature of Scheme: Demerger (withdrawn)
Entities Involved:
- Transferor Company: EFC Limited (material wholly owned subsidiary of EFC (I) Limited)
- Transferee Companies: EFC Estate Marisoft 1 Private Limited (formerly EFC Estate Marisoft 14 Private Limited), EFC Estate Marisoft 2 Private Limited (formerly EFC Estate Marisoft 23 Private Limited), EFC Estate Wakadewadi GF Private Limited (formerly EFC Estate Wakadewadi Private Limited)
Demerged Company: EFC Limited
Resulting Company: Not Specified (scheme withdrawn)
Share Entitlement Ratio: Not Specified (scheme withdrawn)
Implied Capital Structure Impact: Not Specified (scheme withdrawn)
Post-Allotment Listing Plan: Not Specified (scheme withdrawn)
Regulatory and Approval Status:
- Scheme withdrawal approved in respective company meetings on July 29, 2026
- Application to withdraw the Scheme will be filed with Hon'ble Regional Director, Mumbai
- Original scheme was proposed to be implemented through Fast Track Merger route under Section 233 of the Companies Act, 2013
Effective Date: Not Specified (scheme withdrawn)
Financial Rationale: Withdrawal decision was made considering the prevailing legal and regulatory framework, operational requirements, overall business considerations, and in the best interests of the Companies.
Impact on Shareholders: The proposed demerger scheme has been withdrawn, therefore no changes to ownership structure, listing benefits, dividend rights, or voting rights will occur.