Key Details
Symbol (NSE): KOTHARIPET
Corporate Action: Scheme of Amalgamation
Record Date: Not Specified
Nature of Scheme: Amalgamation of Kothari Sugars and Chemicals Limited (Transferor Company) with and into Kothari Petrochemicals Limited (Transferee Company)
Entities Involved:
- Transferor Company: Kothari Sugars and Chemicals Limited
- Transferee Company: Kothari Petrochemicals Limited
Demerged Company: Not Applicable (Amalgamation scheme)
Resulting Company: Kothari Petrochemicals Limited (Transferee Company)
Share Entitlement Ratio: Not Specified
Implied Capital Structure Impact: Not Specified
Post-Allotment Listing Plan: Not Specified
Regulatory and Approval Status:
- NCLT Chennai Division Bench-I issued order dated September 30, 2026 convening the meeting
- Unsecured creditors approved the scheme on November 13, 2026
- SEBI observation letter dated August 19, 2026 received
- National Stock Exchange of India Limited provided observation letter
Effective Date: Not Specified
Financial Rationale: Management represented that the proposed Scheme of Amalgamation will take care of the interests of the Unsecured Creditors, and all their interests will remain intact. All payment terms with the Unsecured Creditors will be honoured by the Transferee Company.
Impact on Shareholders: Not Specified for shareholders (document focuses on creditor approval)
Voting Results:
- Total unsecured creditors as on record date (July 31, 2026): 253
- Remote e-voting period: November 10, 2026 (9:00 AM) to November 12, 2026 (5:00 PM)
- Meeting date: November 13, 2026 at 4:30 PM
- 48 unsecured creditors voted representing ₹273,316,771 in value
- 100% votes cast in favor of the resolution (both by number and value)
- 0 votes against the resolution
- 41 unsecured creditors attended the meeting virtually
Scrutinizer Details:
- Dr. Biswarup Acharya, Advocate, Odisha High Court
- Appointed by NCLT vide order dated September 30, 2026
- Voting conducted through CDSL e-voting platform