Ekansh Concepts531364Scheme of arrangement

BSE gives 'No objection' letter to scheme of merger by absorption of Sankalp Industrial Infratech

BSE has issued a 'No objection' letter dated October 29, 2026 for the scheme of merger by absorption of Sankalp Industrial Infratech Private Limited into the company.

By ScoutQuest · Fri 30 Oct 2026, 3:54 PM IST · 3 min read

BSE NOC letter date: October 29, 2026
Letter validity: six months
Scheme structure: merger by absorption of Sankalp Industrial Infratech Private Limited into the company

What the company informed the exchange

On October 30, 2026 the company told BSE that it has received a 'No objection certificate' dated October 29, 2026 from BSE on the scheme. The scheme is a merger by absorption of Sankalp Industrial Infratech Private Limited (the transferor company) into the company (the transferee company) and their respective shareholders, under Sections 230 to 232 of the Companies Act, 2013.

What BSE's letter says

BSE advises it has "no adverse observations" with limited reference to matters having a bearing on listing, de-listing and continuous listing requirements, so as to enable the company to file the scheme with the NCLT.
The Observation Letter is valid for six months from its date, within which the scheme must be submitted to the NCLT.
BSE may withdraw its 'no adverse observation' at any stage if information submitted is found incomplete, incorrect, misleading or false, or for contravention of rules and regulations.
BSE states that submission of documents should not be construed as the scheme having been cleared or approved by SEBI or the Exchange, and that neither takes responsibility for the financial soundness of the scheme or for the correctness of statements and opinions in the documents.

Disclosures and conditions BSE has asked for

Disclose all details of ongoing adjudication and recovery proceedings, prosecution initiated and other enforcement action against the company, its promoters and directors, before the NCLT and shareholders.
Disclose all pending actions against the entities, their promoters, directors and KMPs.
Financials in the scheme, including those used for the valuation report, should not be for a period more than 6 months old.
The explanatory statement sent to shareholders should cover the need for the merger, rationale, business synergies, impact on shareholders, cost benefit analysis, details of the registered valuer and merchant banker, the basis of the share-swap ratio, pre and post scheme shareholding, capital built-up, revenue, PAT and EBITDA of the companies for the last 3 years, the assets and liabilities being transferred, the post-merger balance sheet, benefits and risks, and the financial implication on promoters and public shareholders.
All liabilities of the transferor company should stand transferred to and vested in the transferee company.
The shares proposed to be issued under the scheme must be in demat form only.
The No-Objection letter must be disclosed on the listed entity's website within 24 hours of receiving it.
No changes to the draft scheme, except those mandated by regulators, authorities or tribunals, without SEBI's specific written consent.
The observations must be incorporated in the petition shared before the NCLT.

What is still pending

The company states the scheme remains subject to receipt of necessary statutory and regulatory approvals, including the approvals of the respective shareholders and creditors of the companies involved in the scheme, and of the jurisdictional NCLT.

How to read this

A 'No objection' letter from the stock exchange is a step in the process that allows the scheme to be taken to the NCLT. BSE itself says this is not an approval of the scheme or of its financial soundness. Progress on shareholder and creditor approvals and the NCLT petition are the next stages to watch.

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