Future Market Networks Ltd has secured an order from the National Company Law Tribunal (NCLT), Mumbai Bench, permitting the withdrawal of its proposed amalgamation scheme with Metawear Ltd. The order, dated June 18, 2026, and uploaded to the NCLT portal on June 30, 2026, formally disposes of the company application as withdrawn. This development concludes the corporate action that had been proposed under Section 230(1) of the Companies Act.

The withdrawal follows specific resolutions passed by the boards of the entities involved. The Board of Directors of the transferor company approved the withdrawal during its meeting held on May 15, 2026. Subsequently, the transferee company's Board passed a similar resolution at its meeting on May 19, 2026. Counsel for the applicant tendered copies of these resolutions to the tribunal, confirming the instructions to withdraw the scheme.

The NCLT bench, comprising Shri Anil Raj Chellan, Hon'ble Member (Technical), and Shri K. R. Saji Kumar, Hon'ble Member (Judicial), accepted the submission. The tribunal noted the board decisions and the applicant's instructions to withdraw the application numbered C.A.(CAA)/18(MB)2026. Consequently, the case was disposed of as withdrawn.

The intimation regarding this regulatory development was submitted to the stock exchanges under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015. The filing was signed by Anil Cherian, Head - Legal and Company Secretary of Future Market Networks Limited.

Future Market Networks Limited has confirmed that its promoters and persons acting in concert did not create any fresh encumbrance on shares during the financial year ended March 31, 2026. This declaration ensures that the shareholding structure remains free of undisclosed charges or pledges for the specified period, providing transparency to shareholders regarding the promoters' holdings.

Vivek Biyani, a member of the Promoter Group, submitted the declaration to BSE Limited and National Stock Exchange of India Limited on April 09, 2026. The filing was made in compliance with Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, which mandates an annual disclosure of any encumbrance on shares by promoters.

The disclosure included a list of promoters and their shareholding as on March 31, 2026. Future Corporate Resources Private Limited, the corporate promoter holding 58.67% of the paid-up share capital, was admitted to corporate insolvency by the National Company Law Tribunal, Mumbai bench, on September 24, 2024. Consequently, the management and control of Future Corporate Resources Private Limited are now under the Resolution Professional, and it is not acting in consonance with the rest of the promoter group.

Surplus Finvest Private Limited, another entity in the promoter group, converted 30,00,000 warrants into equity shares on March 27, 2026. Following this conversion, Surplus Finvest Private Limited holds 62,45,494 equity shares, representing 9.81% of the total paid-up share capital. The listing and trading approvals for these newly allotted shares are currently under process.

The table below details the shareholding of the promoter group and persons acting in concert as on March 31, 2026:

*30,00,000 Equity Shares were allotted to Surplus Finvest Private Limited upon conversion of 30,00,000 Warrants on March 27, 2026. The listing approval and trading approval for the said equity shares are under process.

**Future Corporate Resources Private Limited ["FCRPL"] is a corporate Promoter of Future Market Networks Limited [FMNL] which holds 3,73,37,375 equity shares representing 58.67% of the paid-up share capital of the Company. FCRPL has been admitted to corporate insolvency under the order of Hon'ble National Company Law Tribunal, Mumbai bench ("NCLT") on 24th September 2024 and Interim Resolution Professional ("IRP") was appointed by the NCLT for conducting Corporate Insolvency Resolution Process (CIRP) under the applicable provisions of the Insolvency and Bankruptcy Code, 2016.