Modern Insulators Ltd Receives NCLT Direction for Scheme of Arrangement with Modern Denim Ltd

Modern Insulators Limited has received a directive from the National Company Law Tribunal, Jaipur Bench, regarding the Scheme of Arrangement between Modern Insulators Limited and Modern denim Limited and their respective shareholders and creditors. The NCLT has disposed the petition with the liberty to the Company to approach after completion of certain regulatory and procedural requirements. The Company is awaiting a certified copy of the order and will take appropriate steps to complete the requisite compliances for proceeding further in the matter in accordance with applicable laws.