Divestment19 Jun 2026, 06:30 pm
NCLT Directs Creditors Meeting for Indo Thai Securities Demerger Scheme
AI Summary
Indo Thai Securities Ltd (ITSL) announced an NCLT-directed meeting of its unsecured creditors on Friday, July 24, 2026, at 3:00 PM (IST) via video conferencing. The meeting is convened to consider and approve, with or without modification, a proposed Scheme of Arrangement. This scheme involves the demerger of ITSL's Broking and Distribution Business into Indo Thai Financial Services Limited (ITFSL) and their respective shareholders, under Sections 230 to 232 of the Companies Act, 2013. Notices for the meeting, along with an explanatory statement and the scheme document, were dispatched electronically to eligible creditors by June 19, 2026, and are also available on the company's website.
Key Highlights
- NCLT directed meeting of unsecured creditors scheduled for July 24, 2026.
- Meeting to be held virtually at 3:00 PM (IST) to approve scheme.
- Scheme involves demerger of Broking & Distribution Business from ITSL to ITFSL.
- E-voting facility available for creditors from July 20 to July 23, 2026.
- Notices dispatched electronically to eligible creditors by June 19, 2026.
Price Impact
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