Merger scheme resolutions passed at NCLT-convened meetings of creditors and shareholders

Two NCLT-convened meetings were held on October 09, 2026 through video conferencing.

Fri 9 Oct 2026

NCLT-convened meetings date

October 09, 2026 through video conferencing

Secured creditors meeting timing

began 12:00 noon, concluded 12:25 p.m.

Equity shareholders meeting timing

began 12:45 p.m., concluded 1:12 p.m.

Scheme of merger: meetings held

Two separate meetings were convened on the directions of the Hon'ble NCLT, Mumbai Bench, by its order dated August 06, 2026, to consider the scheme of merger by absorption of Roselabs Finance Limited (First Transferor Company) and National Standard (India) Limited (Second Transferor Company) into Lodha Developers Limited (Transferee Company) and their respective shareholders and creditors.

• The meeting of Secured Creditors (including Secured Debenture Holders) was held on Friday, October 09, 2026 at 12:00 Noon (IST) and concluded at 12:25 P.M. (IST).
• The meeting of Equity Shareholders was held the same day at 12:45 P.M. (IST) and concluded at 01:12 P.M. (IST).
• Both meetings were held through Video Conferencing / Other Audio-Visual Means.
• Remote e-voting ran from Tuesday, October 06, 2026 at 09:00 A.M. (IST) to Thursday, October 08, 2026 at 05:00 P.M. (IST). Members who had not voted earlier could vote during the meeting, which stayed open for 15 minutes for that purpose.
• Mr. Satya Ranjan Prasad, Retired Member (Technical), NCLT, chaired the meetings as appointed in the Notice.

The business transacted

The item placed before both meetings was to approve the scheme of merger by absorption, as a Special Resolution. The company states the resolution set out in the NCLT Convened Meeting Notice has been duly passed, through e-voting, with the requisite majority by both the Secured Creditors (including Secured Debenture Holders) and the Equity Shareholders of the company.

The scheme has also been approved by the Equity Shareholders (including the Public Shareholders) of Roselabs Finance Limited and National Standard (India) Limited with the requisite majority. On that basis, the company states that all the requisite approvals for the scheme have been obtained from the shareholders and creditors of the companies concerned.

Where the scheme stands

• The scheme is subject to the sanction of the Hon'ble NCLT and such other approvals as may be required.
• The voting results of the meetings and the Scrutinizer's Reports dated October 09, 2026 were enclosed with the update, and the e-voting results were to be communicated to the stock exchanges within two working days from the conclusion of the meetings.

What a retail shareholder is looking at

This disclosure is the outcome of the court-convened meetings at which creditors and shareholders voted on the merger scheme. The company's statement is that the votes carried the resolutions in both meetings, and that the transferor companies' shareholders have also approved. Completion of the merger still rests on the NCLT sanction and any other approvals the scheme requires.

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