Arkade Developers Limited has completed the filing of Form INC-28 with the Registrar of Companies, Mumbai, on March 25, 2026, marking a significant milestone in its corporate restructuring initiative. This filing follows the National Company Law Tribunal's (NCLT) approval of the scheme of arrangement between the company and its wholly-owned subsidiary, Filmistan Private Limited.

NCLT Approval and Scheme Details

The Mumbai Bench of the NCLT approved the demerger scheme on March 16, 2026, under Sections 230 to 232 of the Companies Act, 2013. The scheme involves the transfer of Filmistan Private Limited's "Demerged Undertaking" to Arkade Developers Limited on a going concern basis.

Scope of Demerged Undertaking

The demerged undertaking encompasses Filmistan's rental business activities, specifically comprising:

• Tenancy rights over land located at Village Pahadi, Goregaon (West), Taluka Borivali, District Mumbai Suburban
• Various specialized structures erected on the property
• Related equipment, assets, and corresponding liabilities
• Management and operational rights pertaining to the business

The transfer includes all movable and immovable properties, tangible and intangible assets, contracts, agreements, licenses, approvals, and other rights associated with the rental business operations.

Strategic Rationale and Benefits

The scheme is designed to achieve several strategic objectives as part of Arkade Developers' overall growth strategy in the real estate sector:

• Streamlined Management: The demerger will consolidate leasehold rights of the property with the underlying land already owned by Arkade Developers, creating a unified ownership framework
• Administrative Efficiency: Integration within a single entity will rationalize operations and achieve administrative efficiencies
• Future Opportunities: Unified ownership positions the company to better explore remaining business opportunities
• Stakeholder Benefits: The arrangement serves the best interests of shareholders, creditors, and other stakeholders of both companies

Share Capital Structure

The share capital details of both companies as of the appointed date reveal the subsidiary relationship:

Filmistan Private Limited (Demerged Company)

Arkade Developers Limited (Resulting Company)

Regulatory Compliance and Next Steps

The scheme has received all necessary regulatory approvals, with the NCLT noting that no objections were received during the approval process. The Regional Director (Western Region) provided satisfactory observations, and all concerns raised were adequately addressed by the applicant companies.

Key compliance aspects include:

• Protection of creditor and employee interests
• Compliance with accounting standards and tax regulations
• Adherence to SEBI listing obligations and disclosure requirements
• Proper transfer of assets, liabilities, and legal proceedings

The effective date of the scheme will be determined upon completion of all conditions specified in the arrangement, with the appointed date retrospectively set as August 1, 2025. This corporate restructuring initiative represents Arkade Developers' continued focus on optimizing its real estate operations and positioning for future growth opportunities.

Arkade Developers has announced the launch of Arkade Evoke, a luxury residential project in Goregaon West with a Gross Development Value of ₹230 crores. The announcement was made under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, marking the company's eighth residential development in the Goregaon-Malad belt.

Project Overview

Arkade Evoke is strategically positioned in the premium 2 and 3 BHK segment, spread across 1.09 acres in Goregaon West. The project benefits from strong connectivity, including proximity to Arkade Bangur Nagar metro station, which serves as an important driver of residential demand in Mumbai's western suburbs.

Strategic Market Position

The luxury development reinforces Arkade's presence in the Goregaon-Malad corridor, further strengthening its footprint in this established residential micro-market. The project is designed to reflect evolving buyer preferences with thoughtfully planned residences featuring balconies, particularly in the 3 BHK configurations.

Management Commentary

Commenting on the launch, Mr. Amit Jain, CMD of Arkade Developers Limited, stated that the response has been overwhelming even in challenging market conditions. He emphasized that customers have clearly understood the brand and product value, marking the launch as a grand success in this micro-market.

Company Profile

Arkade Developers is a leading luxury real estate developer in Mumbai, listed on both BSE and NSE. With a legacy spanning over 39 years under the leadership of Chairman and Managing Director Mr. Amit Jain, the company has completed 31 projects and created homes for over 5,500 families. The company has developed over 5.5 million square feet of property, with an additional 2+ million square feet currently under construction.