Triveni Power Transmission Certifies Fractional Share Proceeds Payment

Triveni Power Transmission Ltd has reported that its Audit Committee and Independent Directors have certified the payment of proceeds to eligible shareholders of fractional shares. This action is in compliance with the Composite Scheme of Arrangement involving Sir Shadi Lal Enterprises Ltd., Triveni Engineering & Industries Ltd., and Triveni Power Transmission Ltd., as sanctioned by the National Company Law Tribunal (NCLT). The certification follows SEBI's Master Circular on Schemes of Arrangement. The scheme involved the transfer of the Power Transmission Business to Triveni Power Transmission Ltd. and an equity share allotment ratio of 1:3. A total of 73,009 shareholders were entitled to fractional shares, with 35,852 fractional shares consolidated and credited to a separate escrow account.