NCLT allows 90-day extension to hold amalgamation scheme meetings

NCLT Mumbai has allowed an extension of 90 days, from the date of uploading its order, for holding the meetings of the transferee company's equity shareholders and the secured creditors of the transferor companies for the proposed.

Fri 2 Oct 2026

Extension Granted

90 days from the date of uploading the order

Tribunal

National Company Law Tribunal, Mumbai Bench

Order Date

August 13, 2026

Earlier NCLT Directions Dated

June 19, 2026

Number of Transferor Companies

three transferor companies

What has been announced

The company has informed the stock exchange that it has received an order dated August 13, 2026 passed by the National Company Law Tribunal, Mumbai Bench, in connection with the proposed scheme of amalgamation. Under this order, the NCLT has allowed the company's application and granted an extension of 90 days from the date of uploading the order for convening the meetings that are part of the scheme process.

The scheme in brief

The scheme involves the amalgamation of three transferor companies, namely Al Agri Global Limited, B.N. Agritech Limited and Salasar Balaji Overseas Private Limited, with BN Agrochem Limited, the transferee company, and their respective shareholders, under sections 230 to 232 of the Companies Act, 2013.

• The meetings covered by the extension are of the equity shareholders of the transferee company and of the secured creditors of the three transferor companies.
• The company had earlier received NCLT directions dated June 19, 2026 for convening and holding these meetings.
• The company shared an application seeking more time because, as submitted, the delay in holding the meetings was neither intentional nor deliberate.
• The reason given was that the equity shareholders of the transferee company and the secured creditors of the transferor companies required further time to complete their internal approval processes and to issue authorisations for their representatives to attend and vote at the meetings.

What the tribunal has directed

The NCLT has allowed the extension of ninety days as sought, running from the date of uploading the order. The tribunal has also stated that all other directions given in the earlier order dated June 19, 2026 will continue to apply in the same manner. These include directions relating to the issuance of notices, publication of advertisements, appointment of the Chairperson and the Scrutiniser, and the quorum, voting and reporting requirements.

The application has accordingly been allowed and disposed of.

What happens next

The date of the meeting or meetings, along with the notice or notices for the same, will be submitted by the company to the stock exchange in due course. A copy of the order is also being made available on the company's website.

How to read this update

This is a procedural development in the ongoing amalgamation process. An extension of time means the meetings that are part of the scheme approval process will be held later than originally scheduled, and the process continues under the revised timeline. The eventual shareholder and secured creditor meetings, and their outcome, are the steps through which the scheme moves forward.

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