Triveni Engg. & Industries: Audit Committee Certifies Fractional Share Proceeds Distribution
Triveni Engineering & Industries Ltd. has submitted reports from its Audit Committee and Independent Directors, as required by SEBI regulations, certifying the distribution of proceeds from fractional shares. This action is pursuant to a Composite Scheme of Arrangement sanctioned by the NCLT, involving the amalgamation of Sir Shadi Lal Enterprises Ltd. with Triveni Engineering & Industries Ltd. and the creation of Triveni Power Transmission Ltd. The reports confirm compliance with the SEBI Master Circular dated June 20, 2023, regarding the distribution of proceeds to eligible shareholders who were entitled to fractional shares post-merger. The effective date of the scheme was May 19, 2026.
Key Highlights
- Audit Committee and Independent Directors certified fractional share proceeds distribution.
- Action is pursuant to a Composite Scheme of Arrangement sanctioned by NCLT.
- Confirms compliance with SEBI Master Circular on Scheme of Arrangement.
- Distribution relates to fractional entitlements arising from merger.
- Scheme involved Sir Shadi Lal Enterprises, Triveni Engineering, and Triveni Power Transmission.
Price Impact
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