NCLT-convened meeting: shareholders approve scheme of merger by absorption with Lodha Developers

The NCLT-convened meeting of equity shareholders was held on October 09, 2026 through video conferencing, from 11:00 a.m. to 11:28 a.m. IST.

Fri 9 Oct 2026

Votes Polled

1,92,36,167 votes polled (96.1808% of 2,00,00,000 shares)

Votes In Favour

1,91,71,936 in favour (99.6661%)

Public Shareholders Votes

44,48,068 votes polled; 43,83,837 (98.5560%) in favour

The NCLT-convened meeting of the equity shareholders of National Standard (India) Limited was held on October 09, 2026 through video conferencing / other audio-visual means, from 11:00 a.m. to 11:28 a.m. IST, as directed by the Hon'ble NCLT, Mumbai Bench, vide its Order dated August 06, 2026.

What was put to vote

The only item of business 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 Lodha Developers Limited (Transferee Company) and their respective shareholders and creditors. It was placed before shareholders as a Special Resolution, and the Company states the resolution has been duly passed through e-voting with the requisite majority.

Voting result across all equity shareholders

• Total shares held: 2,00,00,000
• Total votes polled: 1,92,36,167, being 96.1808% of the shares
• Votes in favour: 1,91,71,936, being 99.6661% of the votes polled
• Votes against: 64,231, being 0.3339% of the votes polled
• Promoter and Promoter Group: 1,47,88,099 shares held; 1,47,88,099 votes polled, all in favour (100.0000%)
• Public - Institutions: 215 shares held; no votes polled
• Public - Non Institutions: 52,11,686 shares held; 44,48,068 votes polled (85.3480%); in favour 43,83,837 (98.5560%), against 64,231 (1.4440%)

Public shareholders' vote (excluding promoter and promoter group) The votes of public shareholders are counted separately under the SEBI Master Circular.

• Votes polled: 44,48,068, being 85.3480%
• In favour: 43,83,837, being 98.5560% of the votes polled
• Against: 64,231, being 1.4440% of the votes polled

Scrutinizer's conclusion

The Scrutinizer stated that the resolution was passed (i) by majority of equity shareholders in number representing three-fourth in value of the equity shareholders who participated in the process, as required under Section 230(6) of the Companies Act, 2013, and (ii) with the votes cast by public shareholders in favour being more than the votes cast against, as required under the SEBI Master Circular.

Other meeting details

• Remote e-voting period: October 06, 2026, 09:00 a.m. IST to October 08, 2026, 05:00 p.m. IST
• Record date: 02-10-2026; total number of shareholders on record date: 5,833
• Shareholders who attended the meeting through video conferencing: 1 promoter / promoter group and 47 from the public
• Number of resolutions passed at the meeting: 1
• The Chairperson informed the equity shareholders that the e-voting results along with the Scrutinizer's Report would be communicated to the stock exchanges within two working days from the conclusion of the meeting, and would also be placed on the websites of the Company, NSDL and BSE Limited.

What this means

This communication sets out the outcome of the shareholder vote on the merger scheme, showing how the promoter group and public shareholders voted. The special resolution has been passed by the equity shareholders with the requisite majority, and the voting result, together with the Scrutinizer's Report, has been submitted to the exchange.

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