Meeting Details

  • Date: Friday, June 05, 2026
  • Time: 03:00 P.M. (IST)
  • Location: Conducted through video conferencing (VC) / other audio-visual means (OAVM)
  • Type: Meeting of Unsecured Creditors convened by NCLT Mumbai Bench
  • NCLT Reference: Company Scheme Application No. CAA/25(MB)/2026
  • Order Date: April 09, 2026

Proposed Resolution and Implications

The meeting considered the Scheme of Arrangement in the nature of merger/amalgamation of Saicharan Consultancy Private Limited (Transferor Company) with Hubtown Limited (Transferee Company) and their respective shareholders and creditors under Sections 230 to 232 of the Companies Act, 2013.

The Scheme was approved by Unsecured Creditors with requisite majority. Key implications include:

  • No compromise or arrangement with creditors of Hubtown Limited
  • Creditors continue as creditors on same terms and conditions as previously applicable
  • Rights of creditors not adversely affected by the Scheme
  • No likelihood of any prejudice to creditors from Scheme sanction

Voting Process and Methods

  • Remote e-voting period: Tuesday, June 02, 2026 (9:00 A.M.) to Thursday, June 04, 2026 (5:00 P.M.)
  • Cut-off date for voting eligibility: Tuesday, September 30, 2025
  • Meeting e-voting: Facility available during meeting for creditors who hadn't voted remotely
  • Voting extension: E-voting remained open for 30 minutes post-meeting conclusion
  • Scrutinizer: Mr. Ketan Dand (Membership No. F5288), Practicing Company Secretary appointed to scrutinize votes

Key Meeting Proceedings

  • Chairperson: Mr. Sushil Kumar Agarwal, IRS (Retd.) appointed by NCLT
  • Quorum: Requisite quorum present at scheduled commencement time (03:00 P.M.)
  • Attendance: All Board of Directors, Chief Financial Officer, and Company Secretary present
  • Document distribution: Notice of Meeting with web links and QR codes dispatched via courier and email
  • Discussion: No questions, views, or clarifications sought by Unsecured Creditors regarding the Scheme

Compliance and Regulatory References

  • Companies Act, 2013 and rules thereunder
  • SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Ministry of Corporate Affairs general circulars for VC/OAVM meetings
  • Secretarial Standard on General Meetings (SS-2) by ICSI
  • Regulation 44 of SEBI LODR Regulations
  • Sections 230-232 of Companies Act, 2013

Results Announcement and Disclosure

  • Voting results and Scrutinizer's Consolidated Report to be announced within two working days of meeting conclusion
  • Results to be informed to BSE Limited and National Stock Exchange of India Limited
  • Results to be placed on company website and MUFG Intime India Private Limited website

Signatories and Roles

  • Company Secretary & Compliance Officer: Mr. Shivil Kapoor (Membership No.: F11865)
  • Managing Director: Mr. Vyomesh Shah (briefed creditors on Scheme rationale)
  • Scrutinizer: Mr. Ketan Dand (Membership No. F5288)
  • Chairperson: Mr. Sushil Kumar Agarwal, IRS (Retd.)