Corporate Action22 Jul 2026, 05:10 pm
Siyaram Silk Mills Ltd: NCLT Approves Scheme of Arrangement for Bonus Preference Shares
AI Summary
Siyaram Silk Mills Ltd has received approval from the National Company Law Tribunal (NCLT), Mumbai Bench, for its Scheme of Arrangement. The scheme, sanctioned on July 21, 2026, allows for the issuance of preference shares by way of bonus to the company's shareholders, utilizing its general reserves. The company had previously secured unanimous approval from its Board of Directors on October 26, 2024, and subsequent approvals from equity shareholders and unsecured creditors in meetings held on December 29, 2025. The equity shares of Siyaram Silk Mills are listed on BSE and NSE. The company will proceed with further steps upon receiving the certified copy of the NCLT's order.
Key Highlights
- NCLT Mumbai sanctions Scheme of Arrangement for bonus preference shares.
- Scheme approved by Board, shareholders, and unsecured creditors.
- Bonus preference shares to be issued using company's general reserves.
- Company to proceed with implementation after receiving certified order.
Price Impact
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