Asian Granito India Ltd: Audit Committee & Independent Directors Report on Scheme Proceeds

Asian Granito India Ltd (AGIL) has filed a report from its Audit Committee and Independent Directors, certifying the distribution of proceeds from fractional shares arising from a Composite Scheme of Arrangement. The scheme, effective March 1, 2026, involved the demerger of Adicon Ceramica Tiles Private Limited into Adicon Ceramics Limited, with AGIL as the resulting company. Shareholders of the demerged entity were allotted AGIL shares based on a set ratio. Fractional shares were consolidated, and the proceeds from their sale by a nominated trustee will be remitted to AGIL after deducting taxes and expenses, as per SEBI guidelines.