Jubilant Agri gets NCLT nod for demerger first motion application

Jubilant Agri and Consumer Products Limited has received an order from the Hon'ble National Company Law Tribunal (NCLT) allowing its First Motion Application concerning a Scheme of Arrangement. This scheme involves the demerger of the 'Agri Business' of Jubilant Agri and Consumer Products Limited into Jubilant Agri Solutions Limited. The NCLT has directed the convening of meetings for equity shareholders and unsecured creditors of the demerged company, while dispensing with meetings for secured creditors of the demerged company and all classes of creditors and shareholders of the resulting company. This is a significant step in the demerger process, following earlier receipt of observation letters from NSE and BSE.