NCLT Approves BTL EPC Shrachi Agrimech Demerger Meetings

NCLT Kolkata bench issues order for first motion approval of a demerger scheme between BTL EPC Limited and Shrachi Agrimech Limited with an appointed date of 01 April 2025.
Meetings for equity shareholders and resulting company's unsecured creditors are dispensed with due to 100% and 90% written consents respectively.
Physical meetings are ordered for the demerged company's 34 secured creditors and 1,504 unsecured creditors to be held within 90 days.
The order appoints a chairperson and scrutinizer for the creditor meetings and directs notices to regulatory authorities including ROC and Regional Director.