NCLT Approves Mandawewala-AYM Syntex Amalgamation Scheme

NCLT Mumbai approves first motion application for amalgamation of Mandawewala Enterprises with AYM Syntex under Companies Act 2013.
Scheme simplifies promoter shareholding structure through share swap ratio of 3.67 crore AYM Syntex shares to Mandawewala shareholders.
Tribunal dispenses with meetings for Mandawewala shareholders/creditors but requires AYM Syntex equity shareholder and unsecured creditor meetings.
Appointed date set as 01.04.2024 with share swap based on valuation report dated 06.02.2025 by registered valuer CA Harsh Ruparelia.