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NCLT approves amalgamation scheme for Profectus Capital and Ugro Capital, requiring stakeholder votes
07-Aug-2026, 05:49
The National Company Law Tribunal (NCLT) has issued an order outlining procedures for a proposed scheme of amalgamation involving Profectus Capital and Ugro Capital, mandating notifications and approvals from stakeholders including shareholders and creditors. Companies must hold separate meetings with equity shareholders of Ugro Capital and secured and unsecured creditors of both Profectus Capital and Ugro Capital to vote on the scheme. Notices must be published in "Financial Express" and "Loksatta," and posted on the companies’ websites, www.profectuscapital.com and www.ugrocapital.com, within 30 days. The order encourages electronic communication and voting, with reporting deadlines set for meeting outcomes and an affidavit of service to be filed within a reasonable timeframe.
The National Company Law Tribunal (NCLT) has issued an order outlining procedures for a proposed scheme of amalgamation involving Profectus Capital and Ugro Capital, mandating notifications and approvals from stakeholders including shareholders and creditors. Companies must hold separate meetings with equity shareholders of Ugro Capital and secured and unsecured creditors of both Profectus Capital and Ugro Capital to vote on the scheme. Notices must be published in "Financial Express" and "Loksatta," and posted on the companies’ websites, www.profectuscapital.com and www.ugrocapital.com, within 30 days. The order encourages electronic communication and voting, with reporting deadlines set for meeting outcomes and an affidavit of service to be filed within a reasonable timeframe.