India Glycols Limited has achieved a significant milestone in its corporate restructuring journey with the National Company Law Tribunal (NCLT) Allahabad admitting its second motion petition for a scheme of arrangement. The order dated 9th April, 2026, made available online on 10th April, 2026, represents a crucial step forward in the company's planned demerger.

NCLT Order Details

The NCLT has admitted the second motion petition filed under Sections 230 to 232 of the Companies Act, 2013, in relation to the scheme of arrangement among India Glycols Limited (Demerged Company), Ennature Biopharma Limited (Resulting Company 1), and IGL Spirits Limited (Resulting Company 2). This follows the company's earlier intimation dated 24th March, 2026, regarding the outcome of meetings of equity shareholders and unsecured creditors.

Regulatory Compliance Requirements

The NCLT has directed India Glycols to undertake several compliance measures as part of the approval process. The company must make newspaper publications in Business Standard (English) and Amar Ujala (Hindi), ensuring wide circulation in areas where the registered office is located. Additionally, notices must be issued to various regulatory authorities as specified under Section 230(5) of the Companies Act, 2013.

Key regulatory bodies that will receive notices include:

• Central Government through Ministry of Corporate Affairs
• Regional Director, Ministry of Corporate Affairs
• Registrar of Companies, Uttarakhand
• Income Tax authorities including Principal Chief Commissioner of Income Tax, Lucknow
• Securities and Exchange Board of India
• National Stock Exchange of India Limited
• BSE Limited

Scheme Structure and Timeline

The demerger scheme involves three entities with specific roles in the corporate restructuring. India Glycols Limited serves as the demerged company, while Ennature Biopharma Limited and IGL Spirits Limited will function as the two resulting companies post-demerger.

All regulatory authorities have been given 30 days from receipt of notice to submit their representations. If no objections are received within this timeframe, it will be presumed that the authorities have no objections to the proposed scheme.

Next Steps and Proceedings

The matter is now scheduled for further hearing on 21st May, 2026. The company has been directed to file affidavits evidencing proof of service and publication compliance at least 7 days before the hearing date. The NCLT registry will also report on any objections received from the public pursuant to the newspaper publication of the hearing notice.

The scheme remains subject to applicable regulatory and other approvals. A certified copy of the order is awaited, and the complete order has been made available on the company's website for stakeholder reference. This development represents continued progress in India Glycols' strategic corporate restructuring initiative.

India glycols Limited has submitted its quarterly compliance certificate to stock exchanges, fulfilling regulatory requirements under SEBI's depositories regulations for the quarter ended 31st March, 2026.

Regulatory Filing Details

The company filed the certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 with both BSE Limited and National Stock Exchange of India Limited on April 3, 2026. The submission was made by Ankur Jain, Head (Legal) & Company Secretary of India Glycols Limited.

Registrar Compliance Certificate

MCS Share Transfer Agent Limited, serving as the registrar and share transfer agent for India Glycols Limited, issued the compliance certificate on April 2, 2026. The certificate confirms adherence to regulatory requirements for the dematerialization process during the quarter.

Regulatory Framework

The filing falls under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, which mandates quarterly certification of compliance with dematerialization processes. This regulation ensures proper handling of securities conversion from physical to electronic form and maintenance of accurate records.

Stakeholder Communication

Copies of the certificate were also forwarded to both depositories - National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL) - ensuring comprehensive regulatory compliance across all relevant authorities.

The submission demonstrates India Glycols Limited's commitment to maintaining regulatory compliance and transparent communication with market infrastructure institutions and investors.