Jubilant Agri & Consumer Products Ltd sets Sep 5 creditors meeting for demerger

Jubilant Agri & Consumer Products Limited will convene a meeting of its unsecured creditors on September 05, 2026, at 12:30 P.M. (IST) to seek approval for its proposed Scheme of Arrangement for Demerger. The meeting, directed by the National Company Law Tribunal (NCLT), Allahabad Bench, aims to approve the separation of the company’s Agri Division into a distinct entity, Jubilant Agri Solutions Limited. This structural change is designed to unlock value by allowing focused management and independent capital allocation for the agricultural business segment.

The NCLT issued its order on July 08, 2026, directing the convening of the meeting under Sections 230 to 232 of the Companies Act, 2013. The notice was dispatched on August 01, 2026, to unsecured creditors with an outstanding debt exceeding ₹1,00,000 as of the cut-off date, March 31, 2026. Deep Chandra Joshi, Former Acting President of the NCLT, has been appointed as the Chairperson for the meeting, with Anil Kumar serving as the Scrutinizer. The venue is the company’s registered office in Gajraula, Uttar Pradesh.

Scheme Details and Financial Impact

Under the proposed scheme, the Agri Division of Jubilant Agri and Consumer Products Limited (the Demerged Company) will be transferred to Jubilant Agri Solutions Limited (the Resulting Company) on a going concern basis. The share entitlement ratio is set at 1:1, meaning shareholders will receive one equity share of the Resulting Company for every one share held in the Demerged Company.

Metric	Value
Meeting Date	September 05, 2026
Cut-off Date	March 31, 2026
Share Entitlement Ratio	1:1
Assets Transferred	₹3,680.53 million
Liabilities Transferred	₹1,436.80 million

As of March 31, 2026, the Demerged Company reported total assets of ₹3,680.53 million and liabilities of ₹1,436.80 million associated with the Agri Division. These figures will be transferred to Jubilant Agri Solutions Limited upon the scheme’s effectiveness. The Demerged Company will retain its Performance Polymers and Chemicals Division and may subsequently change its name to Jubilant Industries Limited.

Regulatory Approvals and Rationale

The scheme has received ‘no objection’ letters from both the BSE Limited and the National Stock Exchange of India Limited, dated April 17, 2026. The statutory auditors, BGJC & Associates LLP, have certified that the accounting treatment complies with Ind AS 103 Appendix C, utilizing the pooling of interests method for entities under common control.

The Board of Directors approved the scheme on November 04, 2025, citing the need for strategic clarity and risk segregation. The agriculture sector in India is undergoing rapid transformation supported by government initiatives such as PM-KISAN and PMFBY. By separating the Agri Division, the companies aim to pursue tailored growth strategies aligned with their respective market dynamics. The scheme requires approval from a majority in number representing three-fourths in value of the unsecured creditors present and voting.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.47%	-3.93%	-12.47%	-17.04%	-23.18%	+17.76%

The National Company Law Tribunal (NCLT), Allahabad Bench, has approved the first motion application for the demerger of the Agri Business of Jubilant Agri and Consumer Products Limited into its wholly owned subsidiary, Jubilant Agri Solutions Limited. The order, dated July 08, 2026, sanctions the Scheme of Arrangement and directs the convening of meetings for equity shareholders and unsecured creditors of the demerged company to approve the proposal. This restructuring aims to unlock shareholder value by enabling focused management and strategic clarity for the distinct business verticals of performance polymers and agri-products.

The Tribunal has dispensed with the requirement to convene meetings for the secured creditors of the demerged company, noting that 100% of the secured creditors by value have provided their consent via affidavits. Additionally, meetings for the equity shareholders, secured creditors, and unsecured creditors of the resulting company, Jubilant Agri Solutions Limited, have been dispensed with. The resulting company is a wholly owned subsidiary with only eight equity shareholders, all of whom have consented to the scheme, and it holds no secured or unsecured creditors.

Meeting Schedule and Procedures

The NCLT has scheduled the meetings for the equity shareholders and unsecured creditors of Jubilant Agri and Consumer Products Limited for Saturday, September 5, 2026. The equity shareholders' meeting will commence at 11:30 A.M., followed by the unsecured creditors' meeting at 12:30 P.M. Both meetings will be held at the company's registered office in Bhartiagram, Gajraula, Uttar Pradesh. The meeting for unsecured creditors is restricted to those with an outstanding debt exceeding ₹1,00,000 as on March 31, 2026, which totals 434 creditors holding an aggregate debt of ₹194,32,45,777.

Remote e-voting facilities will be provided to the equity shareholders in addition to the poll conducted at the venue. Mr. Deep Chandra Joshi, Former Acting President, NCLT, has been appointed as the common Chairperson for the meetings, with Mr. Saumyam Krishna as the Alternate Chairperson and Mr. Anil Kumar as the common Scrutinizer. The company has been directed to publish advertisements regarding the meetings in "Hindustan Times" (English) and "Hindustan" (Hindi) at least 30 clear days prior to the meeting dates.

Scheme Details and Approvals

The Scheme of Arrangement stipulates a share entitlement ratio of 1:1, wherein shareholders of the demerged company will receive one fully paid-up equity share of ₹10 each in Jubilant Agri Solutions Limited for every share held in Jubilant Agri and Consumer Products Limited. The appointed date for the arrangement will be the effective date approved by the NCLT. Upon the scheme becoming effective, the demerged company will change its name to "Jubilant Industries Limited" without adding its former name as a suffix.

The order confirms that the Competition Commission of India (CCI) approval is not required for this combination. The applicant companies must obtain necessary approvals from the Central Government, Registrar of Companies, Securities and Exchange Board of India (SEBI), and the stock exchanges. The second motion petition is to be filed within seven days from the submission of the Chairperson's report following the meetings.

Stakeholder Category	Total Number	Meeting / Dispensation	% of Consent Received
Demerged Company
Equity Shareholders	18,349	Meeting	N.A.
Secured Creditors	5	Dispensation	100%
Unsecured Creditors	784	Meeting	N.A.
Resulting Company
Equity Shareholders	8	Dispensation	100%
Secured Creditors	NIL	-	N.A.
Unsecured Creditors	NIL	-	N.A.