Palco Metals Limited has filed a regulatory disclosure under SEBI Regulation 30 regarding the order received from the Hon'ble National Company Law Tribunal (NCLT), Ahmedabad Bench concerning a proposed Scheme of Arrangement.
The disclosure states that the Hon'ble NCLT, Ahmedabad Bench, vide its order dated 16th June 2026, has allowed the First Motion Application and directed the convening of meetings in connection with the proposed Scheme of Arrangement between Palco Metals Limited (as Transferee Company) and Palco Recycle Industries Limited (as Transferor Company). The Scheme is being pursued under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013.
Key Directions from NCLT Order:
- Convening of meeting of Equity Shareholders of Palco Metals Limited (Transferee Company)
- Convening of meeting of Secured Creditors of Palco Recycle Industries Limited (Transferor Company)
- Convening of meetings of Unsecured Creditors of both Palco Recycle Industries Limited (Transferor Company) and Palco Metals Limited (Transferee Company)
- All meetings must be convened within 45 days of the NCLT order date (16th June 2026)
- The Chairman of each meeting must file the meeting report with the Hon'ble Tribunal within 7 days of the respective meeting
The company has enclosed a copy of the NCLT order with this disclosure and is making it available on the company website. The Scheme implementation remains subject to receipt of requisite approvals from shareholders and creditors, followed by final sanction from the Hon'ble NCLT and any other applicable regulatory approvals.
This disclosure serves as a continuation of earlier intimations dated 30th May 2025 and 30th June 2025 regarding the same matter.