Corporate Action11 Jun 2026, 08:01 pm
NCLT Approves Scheme of Arrangement for Indo Thai Securities
AI Summary
The National Company Law Tribunal (NCLT), Indore Bench, has approved a Scheme of Arrangement for the demerger of Indo Thai Securities Limited (ITSL) into Indo Thai Financial Services Limited (ITFSL). The NCLT order, dated June 10, 2026, directs that meetings of ITSL's equity shareholders and unsecured creditors be convened within 45 days to approve the scheme. The meetings of secured creditors for both companies and equity shareholders of ITFSL were dispensed with. The scheme is subject to further regulatory approvals.
Key Highlights
- NCLT Indore approves demerger scheme between ITSL and ITFSL.
- Meetings of ITSL equity shareholders and unsecured creditors to be convened.
- NCLT dispenses with meetings for secured creditors and ITFSL equity shareholders.
- Scheme remains subject to regulatory and other approvals.
Price Impact
More from INDOTHAI