Corporate Action23 Jun 2026, 12:16 pm
Kitex Garments: Meetings Scheduled for Scheme of Arrangement
AI Summary
Kitex Garments Limited has announced that the National Company Law Tribunal (NCLT), Kochi Bench, has ordered meetings of Equity Shareholders and Unsecured Creditors to consider and approve a Scheme of Arrangement. This scheme involves the demerger of Kitex Childrenswear Limited into Kitex Garments Limited. The meetings for Equity Shareholders and Unsecured Creditors will be held on Friday, July 24, 2026, via Video Conferencing (VC) or Other Audio Visual Means (OAVM). Remote e-voting will commence on Monday, July 20, 2026, and conclude on Thursday, July 23, 2026. The cut-off date for determining voting rights for equity shareholders is July 17, 2026, and for unsecured creditors, it is March 31, 2026.
Key Highlights
- Meetings scheduled for equity shareholders and unsecured creditors.
- Purpose is to approve a Scheme of Arrangement involving demerger.
- Meetings and e-voting to be conducted via virtual means.
- Cut-off dates set for determining voting eligibility.
- NCLT order directs the convening of these crucial meetings.
Price Impact
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