Meeting Details
The Hon'ble National Company Law Tribunal (NCLT) Convened Meeting of the Equity Shareholders was held on Friday, 13th November 2026. The meeting commenced at 14:30 hrs and concluded at 14:40 hrs. It was conducted through Video Conferencing (VC) / Other Audio Visual Means (OAVM). The notice calling the meeting was dated 9th October 2026.
Summary of Proposed Resolution and Implications
The single item of business transacted was to consider and approve the Scheme of Amalgamation of Kothari Sugars and Chemicals Limited (KSCL, the Transferor Company) with and into Kothari Petrochemicals Limited (KPL, the Transferee Company) and their respective shareholders and creditors. The Scheme is being undertaken pursuant to Sections 230 to 232 and other applicable provisions of the Companies Act, 2013. The resolution required a requisite majority as prescribed under section 230(6) of the Companies Act, 2013 read with the SEBI Master Circular on Scheme of Arrangement dated June 20, 2023.
Voting Process and Methods
The company provided a remote e-voting facility for members to cast their votes electronically. An e-voting facility at the Meeting was also provided for equity shareholders who had not voted through remote e-voting.
Key Proceedings and Scrutinizer's Role
The Company Secretary and Compliance Officer welcomed the shareholders. Dr. VRK Badarinath Nandula, the Chairperson, commenced the proceedings after confirming the requisite quorum as prescribed by the NCLT was present.
The Notice of the Meeting, the accompanying Explanatory Statement (which set out the material information and rationale for the Scheme), the Scheme of Amalgamation, and other documents were taken as read.
Registered speakers addressed the meeting and sought clarifications on the Scheme, which were provided by the company's representatives.
The Chairperson informed the members that Mr. Biswarup Acharya, the Scrutinizer, would scrutinize all votes cast (both remotely and at the meeting) and submit a report.
Voting Outcomes and Compliance
The disclosure confirms that the resolution was approved by the shareholders. However, the specific numerical results of the voting (total votes cast, percentage in favor/against, category-wise participation) are not provided in this document.
It is stated that the consolidated results of the remote e-voting and e-voting at the Meeting would be announced within two working days from the closure of the meeting. These results will be intimated to the Stock Exchange and posted on the website of the Company and Central Depository Services Limited (CDSL).
The document serves to inform the exchange of the meeting's proceedings and the approval of the resolution in principle.