On April 24, 2025, Chembond Chemicals Limited held a Board meeting where key resolutions regarding the Composite Scheme of Arrangement were approved. The meeting addressed the finalization of the scheme's effectiveness following the sanction by the National Company Law Tribunal (NCLT).

The Composite Scheme of Arrangement involves several entities, including Chembond Chemicals Limited, Chembond Chemical Specialties Limited, Chembond Clean Water Technologies Limited, Chembond Material Technologies Private Limited, Phiroze Sethna Private Limited, and Gramos Chemicals (India) Private Limited. The NCLT had sanctioned the scheme on April 7, 2025, and the certified copy of the order was received on April 22, 2025.

Key Highlights:

1. Appointed Date: The appointed date for the scheme has been set as April 1, 2024. This is the date from which the restructuring will take effect for the involved companies.

2. Effective Date: The effective date of the scheme will be confirmed once the certified order from NCLT is filed with the Registrar of Companies (ROC). This filing will be done by Chembond Chemicals and the resulting entities.

3. Record Date: In line with the scheme, the record date for determining the eligible shareholders who will receive shares of Chembond Chemical Specialties Limited is set for May 9, 2025. Shareholders of Chembond Chemicals as of this date will be entitled to receive shares of the resulting company under the terms of the scheme.

This move marks a significant step in the company's corporate restructuring efforts aimed at enhancing operational efficiency and unlocking value for its stakeholders. The shareholders are encouraged to keep track of further announcements, including the final effective date, which will be communicated to the stock exchanges once the NCLT order is officially filed with the ROC.

The Board meeting concluded at 4:55 p.m., with the company expressing gratitude to its stakeholders for their continued support. The details of the scheme and relevant documents are available on Chembond Chemicals' website for further reference.

The Upcoming IPOs in this week and coming weeks are Ather Energy.

The Current active IPO are Tankup Engineers.

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst.