Shareholders pass resolution approving scheme of merger by absorption at NCLT-convened meeting
Agribio Spirits Ltd informed BSE that its equity shareholders passed the resolution approving the Scheme of Merger by Absorption of Agribiotech Industries Limited into Agribio Spirits Limited.
By ScoutQuest · · 2 min read
- Meeting Held On
- October 24, 2026
- Remote Voting Window
- 19 October 2026 to 23 October 2026
- Resolution Passed
- Scheme of Merger by Absorption of Agribiotech Industries Limited into Agribio Spirits Limited
What was announced
Agribio Spirits Limited (formerly Beekay Niryat Limited, Scrip Code 539546) informed BSE that the meeting of its equity shareholders passed the resolution approving the Scheme of Merger by Absorption of Agribiotech Industries Limited (the transferor company) into Agribio Spirits Limited (the transferee company).
The resolution was passed by the requisite majority of the equity shareholders, including public shareholders.
How the meeting was held
- The meeting was convened under an order of the Hon'ble National Company Law Tribunal, Jaipur Bench, dated August 13, 2026, as modified by an order dated September 3, 2026.
- It was held on Saturday, October 24, 2026, at 03:00 P.M. (1500 hours IST) and ended at 03:35 P.M. (1535 hours IST), through physical presence or video conferencing/other audio visual means.
- Shareholders could vote remotely before the meeting, from 19 October 2026 (09:00 a.m.) to 23 October 2026 (5:00 p.m.), through e-voting at the meeting, or by ballot at the venue.
- Ms. Nandini Gore chaired the meeting, and Mr. Ansh Kakar was the Scrutinizer appointed by the NCLT to scrutinise the voting.
What the shareholders approved
The item transacted was the approval of the Scheme of Merger by Absorption between Agribiotech Industries Limited and Agribio Spirits Limited and their respective shareholders and creditors, under Sections 230 to 232 of the Companies Act, 2013. The Chairperson invited questions on the scheme, and no queries were raised by shareholders.
What happens next
- The voting results, together with the Scrutinizer's Report, will be submitted to the NCLT, Jaipur Bench, as directed.
- These will be available at the registered office, on the company's website and on the CDSL website, and communicated to BSE.
Why this matters to a retail shareholder
In a merger by absorption, the transferor company's business and undertaking move into the transferee company, which is the listed company here. Shareholder approval is one of the steps in this court-supervised process; the scheme still requires the sanction of the NCLT before it takes effect. This update records the shareholder vote — the detailed terms of the scheme sit in the scheme documents circulated with the notice of the meeting.
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