NCLT Ahmedabad sanctions demerger of Shiva Performance Materials' manufacturing business into ShivaCore Materials effective 1 April 2026.
Scheme involves transfer of manufacturing undertaking and issuance of new shares to shareholders with 100% creditor approval.
Regulatory authorities including Regional Director, ROC and Income Tax Department raised no objections after company undertakings.
Demerger aims to create focused business entities for operational flexibility and value unlocking in printing/packaging materials.