NCLT convened meetings of secured creditors and equity shareholders pass merger scheme resolution

Outcome of the NCLT convened meetings held on October 09, 2026.

Fri 9 Oct 2026

NCLT Convened Meetings Date

October 09, 2026

Secured Creditors Meeting Time

12:00 Noon (IST)

Equity Shareholders Meeting Time

12:45 P.M. (IST)

What the meetings were held for

• Separate meetings of the Secured Creditors (including Secured Debenture Holders) and the Equity Shareholders of the company, convened as directed by the Hon'ble National Company Law Tribunal, Mumbai Bench.
• The agenda was to approve the scheme of merger by absorption of Roselabs Finance Limited (First Transferor Company) and National Standard (India) Limited (Second Transferor Company) with the company (Transferee Company) and their respective shareholders and creditors.
• The item was placed as a Special Resolution, and it was duly passed through e-voting with the requisite majority by both groups.

Meeting of Secured Creditors (including Secured Debenture Holders)

• Held on Friday, October 09, 2026 at 12:00 Noon (IST) through Video Conferencing / Other Audio-Visual Means.
• Chaired by Mr. Satya Ranjan Prasad, Retired Member (Technical), NCLT, who was appointed Chairperson as set out in the Notice.
• The requisite quorum was present.
• The meeting concluded at 12:25 P.M. (IST) after being open for 15 minutes for e-voting to be completed.
• No Secured Creditors (including Secured Debenture Holders) registered themselves as a speaker.

Meeting of Equity Shareholders

• Held on the same day at 12:45 P.M. (IST), also through Video Conferencing / Other Audio-Visual Means, with the same Chairperson and requisite quorum.
• The meeting concluded at 01:12 P.M. (IST) after being open for 15 minutes for e-voting to be completed.

How the voting was conducted

• 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).
• Those who did not vote remotely were permitted to vote during the meeting through the e-voting facility provided by NSDL.
• Ms. Dipika Shetty, Practicing Company Secretary, was appointed Scrutinizer for the e-voting.
• The e-voting results and the Scrutinizer's Report are to be communicated to the stock exchanges within two working days from the conclusion of the meetings.

Approvals from the other companies

• The scheme has been approved by the equity shareholders (including the public shareholders) of Roselabs Finance Limited and National Standard (India) Limited with the requisite majority.
• The update states that all the requisite approvals for the scheme have been obtained from the shareholders and creditors of the companies concerned.
• The scheme is subject to the sanction of the Hon'ble NCLT and such other approvals as may be required.

What this tells an investor

• The company has disclosed the outcome of the two NCLT convened meetings: quorum was present, and the resolution approving the merger scheme was passed with the requisite majority by both the secured creditors and the equity shareholders.
• The scheme also carries the approval of the shareholders of the two transferor companies.
• The scheme is not yet complete on its own — it remains subject to the sanction of the Hon'ble NCLT and such other approvals as may be required.

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