Merger13 Apr 2026, 07:01 pm
Hubtown receives NCLT order for merger with Saicharan Consultancy
AI Summary
Hubtown Ltd has received an order from the National Company Law Tribunal (NCLT), Mumbai Bench, dated April 09, 2026, concerning the proposed Scheme of Arrangement. This scheme involves the merger/amalgamation of Saicharan Consultancy Private Limited (Transferor Company) with Hubtown Limited (Transferee Company). The NCLT order directs Hubtown to convene meetings of its Equity Shareholders and Unsecured Creditors to consider and approve the Scheme. This follows the Board's approval of the Scheme on February 14, 2025. Hubtown will provide further details on the scheduled meetings. Saicharan Consultancy is primarily engaged in strategic investments and advisory services.
Key Highlights
- Hubtown received NCLT order for proposed merger with Saicharan Consultancy.
- NCLT directs Hubtown to convene shareholder and creditor meetings.
- Meetings are to approve the merger scheme under Companies Act, 2013.
- Saicharan Consultancy, engaged in investments, will merge into Hubtown.
- Hubtown will announce precise details of the upcoming meetings.