Shri Dinesh Mills: Promoters sign family settlement; Board approves FELT business demerger
Shri Dinesh Mills Ltd. announced a family settlement agreement (FSA) dated April 29, 2026, between its promoter families, Mr. Bharatbhai Upendrabhai Patel and Mr. Nimish Upendrabhai Patel (BUP and NUP Families). The company is not a party to this FSA. Concurrently, the Board of Directors granted in-principle approval for the segregation and demerger of the company's FELT business into a separate, subsequently listed legal entity. This proposed demerger is subject to approvals from the Hon'ble National Company Law Tribunal and other regulatory authorities. As an interim measure, the Board also approved the segregation of business verticals into FELT and Residual Businesses and designated directors for their respective oversight.
Key Highlights
- Promoter families (BUP and NUP) executed a family settlement agreement on April 29, 2026.
- Shri Dinesh Mills Ltd. is not a party to the family settlement agreement.
- Board granted in-principle approval for demerger of FELT business into a separate listed entity.
- Demerger is subject to NCLT and other regulatory approvals.
- Interim measures include segregating business verticals and assigning director oversight.