Legal3 Jul 2026, 07:50 pm
India Glycols: NCLT Reserves Order on Scheme of Arrangement
AI Summary
India Glycols Limited announced that the National Company Law Tribunal (NCLT), Allahabad Bench, has reserved its final order regarding the Scheme of Arrangement for demerger involving India Glycols Limited, Ennature Bio pharma Limited, and IGL Spirits Limited. The NCLT heard the matter on July 2, 2026. A key point of discussion was an outstanding demand of ₹27,890 from the Income Tax Department, which the company stated was related to interest and that the principal amount had been paid. The company has undertaken to be bound by any outstanding demand post-sanction of the scheme.
Key Highlights
- NCLT reserves final order on India Glycols' demerger scheme.
- Scheme involves demerger of India Glycols, Ennature Bio pharma, and IGL Spirits.
- Income Tax Department raised a demand of ₹27,890.
- Company claims principal demand paid; agrees to pay any outstanding interest.
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