Merger17 Jul 2026, 06:20 pm
India Glycols: NCLT Sanctions Scheme of Arrangement
AI Summary
India Glycols Limited announced that the National Company Law Tribunal (NCLT), Allahabad Bench, has sanctioned the Scheme of Arrangement. This scheme involves the demerger of the Bio Pharma Undertaking into Ennature Bio Pharma Limited (Resulting Company 1) and the Spirits and Biofuel Undertaking into IGL Spirits Limited (Resulting Company 2). The order was pronounced on July 17, 2026. The company will submit the order copy once uploaded on the NCLT website. This follows earlier intimations regarding the scheme under Sections 230-232 of the Companies Act, 2013.
Key Highlights
- NCLT Allahabad has sanctioned the Scheme of Arrangement.
- Scheme involves demerger of Bio Pharma and Spirits/Biofuel undertakings.
- Demerger creates two new entities: Ennature Bio Pharma and IGL Spirits.
- Order sanctioned on July 17, 2026.
- Company to provide order copy upon NCLT website upload.
Price Impact
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