Race Eco Chain gets 'no adverse observations' for scheme of arrangement

Race Eco Chain Ltd. has received "no adverse observations" from both BSE Limited and National Stock Exchange of India Limited regarding its Draft Composite Scheme of Arrangement. The scheme involves Race Eco Chain (Demerged Company), Geoeco Green Energy Limited (Resultant Company No. 1), and Race Gateway Limited (Resultant Company No. 2), and their respective shareholders and creditors under sections 230 to 232 of the Companies Act, 2013. SEBI, through a letter dated July 30, 2026, provided several comments and conditions for the scheme's implementation. These include ensuring compliance with SEBI regulations, disclosing ongoing proceedings, displaying additional information on websites, transferring liabilities of the Biomass and Restore Bag divisions, including unlisted company financials, ensuring financials are not older than 6 months, prominently disclosing scheme details to shareholders, issuing new shares in demat form, adhering to scheme clauses, and not making changes without SEBI consent. The scheme remains subject to further applicable regulatory and other approvals.