Board Meeting Details
The Board of Directors meeting was held on September 23, 2026, commencing at 3:00 PM and concluding at 4:00 PM.
Composite Scheme of Amalgamation Approval
The Board approved the Composite Scheme of Amalgamation for the amalgamation of:
- Shish Polylam Private Limited (Transferor Company 1), a wholly-owned subsidiary
- Shish Global Solutions Private Limited (Transferor Company 2), a wholly-owned subsidiary
With and into Shish Industries Limited (Transferee Company), pursuant to Sections 230 to 232 and other applicable provisions of the Companies Act, 2013.
Related Approvals and Authorizations
The Board authorized all necessary actions incidental to the Scheme, including making applications before:
- National Company Law Tribunal (NCLT)
- Ministry of Corporate Affairs
- Registrar of Companies
- SEBI
- Stock Exchanges
- Other statutory, regulatory and governmental authorities
Regulatory Approvals Required
The Scheme is subject to receipt of necessary statutory, regulatory and other approvals, including sanction of the Hon'ble National Company Law Tribunal, Ahmedabad.
Financial Details of Entities (as of June 30, 2026, unaudited standalone basis)
(Rs. in Lakhs)
| Particulars | Shish Polylam Private Limited | Shish Global Solutions Private Limited | Shish Industries Limited |
| Paid up Capital | 24.00 | 1.00 | 4,219.51 |
| Net Worth | 69.87 | (329.51) | 18,491.86 |
| Total Income | Not provided | (0.88) | 3,588.09 |
Related Party Transaction Status
The proposed Scheme does not fall within the purview of related party transactions pursuant to MCA General Circular No. 30/2014 dated July 17, 2014, and Regulation 23(5)(b) of LODR Regulations.
Business Areas
- Transferee Company: Comprehensive industrial packaging products
- Transferor Company 1: Radiant Barrier, Roof Underlayment, Paper PE/PP/EVA Lamination, Aluminum PE/PP/EVA Lamination, Woven Fabric PE/PP/EVA Lamination, nonwoven PE/PP/EVA Lamination, and all kind of extrusion lamination products
- Transferor Company 2: E-commerce and online trading of home, office and construction-related products; software, information technology and digital business solutions including online marketplaces, marketing, payment processing and related services
Rationale for Amalgamation
1. Organisational Rationale: Consolidation of business operations, simplifying corporate structure, reducing legal entities, administrative layers and compliance costs
2. Operational and Financial Synergies: Unified management control, pooling of financial, managerial, technological and manpower resources, elimination of duplication of overheads and fixed costs, optimization of profitability
3. Enhanced Value, Competitiveness and Growth: Higher value realization, stronger competitive position, improved cash flow management for future growth opportunities
4. Stakeholder and Employee Interest: Furthering growth prospects of personnel and employees, in larger interest of public and other stakeholders
Share Consideration
Not applicable since the entire issued, subscribed and paid-up share capital of both Transferor Companies is directly held by Transferee Company. No shares of Transferee Company shall be allotted. The investment in share capital of Transferor Companies shall stand cancelled in the books of Transferee Company upon Scheme effectiveness.
Shareholding Pattern Impact
No change in the shareholding pattern of the Company as the Transferor Companies are wholly owned subsidiaries and no share issuance by Transferee Company is contemplated.
Stakeholder Impact
The Scheme does not adversely affect rights or interests of shareholders or creditors. All secured and unsecured creditors shall continue to be paid in ordinary course of business. The net worth of Transferee Company remains highly positive post-amalgamation.
Additional References
- SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026
- MCA General Circular No. 30/2014 dated July 17, 2014
- Regulation 23(5)(b) of LODR Regulations