POCL Enterprises539195NCLT order update
NCLT allows first motion application; equity shareholders' and unsecured creditors' meetings on November 27, 2026
NCLT Chennai Bench has allowed the joint first motion application for the proposed amalgamation of Planetfirst Green Private Limited into POCL Enterprises Limited.
By ScoutQuest · · 2 min read
- NCLT Order Date
- October 13, 2026
- Equity Shareholders' Meeting
- Friday, November 27, 2026, 10:30 a.m.
- Unsecured Creditors' Meeting
- Friday, November 27, 2026, 12:30 p.m.
What has happened
- The Hon'ble National Company Law Tribunal, Chennai Bench, has passed an order dated October 13, 2026, allowing the joint first motion application; a copy of the order was received by the company on October 14, 2026.
- The application relates to the proposed Scheme of Amalgamation of Planetfirst Green Private Limited (Transferor Company) with and into POCL Enterprises Limited (Transferee Company), under Sections 230 to 232 of the Companies Act, 2013.
Meetings ordered
- Meeting of the equity shareholders of the Transferee Company: Friday, November 27, 2026 at 10:30 a.m., to be convened by online audio-video mode.
- Meeting of the unsecured creditors of the Transferee Company: Friday, November 27, 2026 at 12:30 p.m.
- Both meetings are for the purpose of considering and, if thought fit, approving with or without modification(s) the Amalgamation embodied in the Scheme.
Meetings dispensed with
- Transferor Company: equity shareholders, preference shareholders, secured creditors and unsecured creditors.
- Transferee Company: secured creditors.
What happens next
- The details of the meetings, along with the notices, will be submitted to the stock exchange in due course.
- The Scheme is subject to receipt of applicable regulatory and other approvals.
- The company's earlier intimations on the Scheme were dated July 07, 2026 and March 16, 2026.
Capital-related details stated in the order
- In addition to its paid-up share capital, the Transferee Company has allotted 5,62,782 convertible warrants, each convertible into, or exchangeable for, one fully paid-up equity share of face value of Rs. 2/- each.
- Issue price per warrant: Rs. 202/-, including a premium of Rs. 200/-.
- The equity shares and the 0.5% Non-cumulative Non-convertible Redeemable Preference Shares of the Transferor Company are not listed on any stock exchange.
What the two companies do
- The Transferor Company's objects include manufacturing, trading and recycling of zinc, tin and lead metals, their oxides and salts, and recycling of all types of batteries and of metal, rubber and plastic scrap.
- The Transferee Company's objects cover similar metals, oxides, batteries, chemicals and pharmaceutical products.
What to take away
- The process has reached the stage where the equity shareholders and unsecured creditors of the Transferee Company will meet to consider the Scheme.
- The amalgamation is not yet completed; it remains subject to approval at these meetings and to the applicable regulatory and other approvals.
More numbers
- Convertible warrants allotted by Transferee Company5,62,782
- Face value per equity shareRs. 2/-
- Issue price per convertible warrantRs. 202/-
- Premium per convertible warrantRs. 200/-
- Dividend rate on Transferor Company preference shares0.5%
Source: BSE · 15 Oct 2026
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