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The National Company Law Tribunal (NCLT) has approved a scheme of amalgamation between Kilburn Chemicals Limited and a wholly-owned subsidiary, subject to several conditions. The order, issued recently, mandates that the transferee company comply with the Gujarat Stamp Act of 1958 and pay applicable fees, including Rs. 70,000 to the Regional Director and Rs. 30,000 to the Official Liquidator. All workers and employees of Kilburn Chemicals will be absorbed by the transferee company under terms no less favorable than their existing conditions. Notably, the Income Tax Department retains the right to review the scheme`s tax implications and take action if it`s deemed for tax avoidance, while existing tax benefits and losses will be available to the transferee company.

A company petition, CP(CAA)/33(AHM)2026 in CA(CAA)/23(AHM)2026, has been allowed, approving the amalgamation of several Transferor Companies into a Transferee Company, which the court noted are wholly-owned subsidiaries. The amalgamation will proceed without the issuance of new shares or consideration. Notably, the Income Tax Department retains the right to examine the tax implications of the scheme and pursue any potential liabilities if it is deemed a tax avoidance strategy. The Transferor Companies must file a certified copy of the order with the Registrar of Companies within 30 days, while the Transferee Company must file Form CAA-8. All assets, liabilities, and contracts of the Transferor Companies automatically transfer to the Transferee Company, and employees will be absorbed with favorable terms, with legal fees totaling Rs. 70,000 and Rs. 30,000 payable to the Regional Director and Official Liquidator, respectively.

Meghmani Organics Limited informed the National Stock Exchange of India Limited and BSE Limited that it received a certificate from its Registrar and Share Transfer Agent, MUFG Intime India Private Limited, for the quarter ended September 30, 2026, in compliance with Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018.

Meghmani Organics Limited informed the National Stock Exchange of India Limited and BSE Limited that the trading window for equity shares will be closed from October 1, 2026, until 48 hours after the declaration of the un-audited financial results for the second quarter and half year ended September 30, 2026, of fiscal year 2026-27, with the trading window set to reopen thereafter; the company has designated Central Depository Service Limited to restrict trading by designated persons and their immediate relatives by freezing PAN at security level for the company’s ISIN-INE0CT101020.

Net profit of Meghmani Organics rose 280.05% to Rs 48.19 crore in the quarter ended June 2026 as against Rs 12.68 crore during the previous quarter ended June 2025. Sales declined 11.54% to Rs 542.83 crore in the quarter ended June 2026 as against Rs 613.62 crore during the previous quarter ended June 2025. ParticularsQuarter EndedJun. 2026Jun. 2025% Var. Sales542.83613.62 -12 OPM %18.0410.90 - PBDT96.7854.00 79 PBT66.9824.30 176 NP48.1912.68 280 Powered by Capital Market - Live News