Key Details

Symbol (NSE): KOTARISUG

Corporate Action: Scheme of Amalgamation

Record Date: Not Specified

Nature of Scheme: Amalgamation between Kothari Sugars and Chemicals Limited (Transferor Company) with and into Kothari Petrochemicals Limited (Transferee Company)

Entities Involved:

  • Transferor Company: Kothari Sugars and Chemicals Limited (KSCL)
  • Transferee Company: Kothari Petrochemicals Limited (KPL)

Demerged Company: Not Applicable (Amalgamation)

Resulting Company: Kothari Petrochemicals Limited

Share Entitlement Ratio: Not Specified

Implied Capital Structure Impact: Not Specified

Post-Allotment Listing Plan: Not Specified

Regulatory and Approval Status

NCLT Approval Status: Order dated September 30, 2026 from NCLT Division Bench (Court 1), Chennai convened the unsecured creditors meeting

Shareholder Approval Status: Not covered in this document (focused on unsecured creditors only)

SEBI/Stock Exchange Observations: NSE observation letter dated August 19, 2026 referenced

Effective Date: Not Specified

Voting Results and Creditor Approval

Meeting Date: November 13, 2026 at 11:30 AM

Meeting Mode: Video Conferencing/Other Audio Visual Means

Total Unsecured Creditors on record date (July 31, 2026): 995

Creditors attending meeting: 347 virtually

Remote e-voting period: November 10, 2026 (09:00 hrs) to November 12, 2026 (17:00 hrs)

Voting Results - In Favor:

  • Remote e-voting: 745 creditors (98.94% by number), ₹4,24,64,075 value (99.71% by value)
  • E-voting at meeting: 6 creditors (0.80% by number), ₹1,00,923 value (0.24% by value)
  • Total: 751 creditors (99.73% by number), ₹4,25,64,998 value (99.94% by value)

Voting Results - Against:

  • Remote e-voting: 2 creditors (0.27% by number), ₹23,785 value (0.06% by value)
  • E-voting at meeting: 0 creditors, ₹0 value
  • Total: 2 creditors (0.27% by number), ₹23,785 value (0.06% by value)

Invalid Votes: 0

Scrutinizer: Mr. Biswarup Acharya, Advocate (Enrollment No: O-418/09.05.2009), appointed by NCLT Order dated September 30, 2026

Financial Rationale

Management represented that the proposed Scheme of Amalgamation will take care of the interests of the Unsecured Creditors, and all their interests will remain intact. All payment terms with the Unsecured Creditors will be honoured by the Transferee Company (Kothari Petrochemicals Limited).

Impact on Shareholders

Not Specified (this document focuses on unsecured creditors only)