Jubilant Agri & Consumer Products unsecured creditors unanimously approved the scheme of arrangement for demerger to create Jubilant Agri Solutions Limited. The resolution passed with 100% support during the NCLT-convened meeting held on September 5, 2026.

This approval follows the near-unanimous backing from equity shareholders, who voted with 99.99% support in a separate meeting held on the same day. The combined approvals clear a critical regulatory hurdle for the corporate restructuring.

Unsecured Creditors Meeting

The meeting for unsecured creditors took place at Bhartiagram, Gajraula, Uttar Pradesh, pursuant to an order dated July 8, 2026, by the National Company Law Tribunal, Allahabad Bench. The tribunal appointed Mr. Deep Chandra Joshi as chairperson and Mr. Saumyam Krishna as alternate chairperson for the proceedings.

The session commenced at 12:30 pm and concluded at 1:25 pm. A total of 24 unsecured creditors attended the meeting in person, satisfying the quorum requirement of five creditors under the Companies Act, 2013. Mr. Anil Kumar served as the scrutinizer for the meeting.

Voting Results

Voting was conducted through physical polling at the venue. Out of a total debt value of ₹1,953.49 crore held by unsecured creditors as on the record date (March 31, 2026), votes representing ₹125.90 crore were polled. This represents a participation rate of 6.44% by value.

All voting creditors cast their votes in favour of the scheme. No votes were cast against the resolution. Promoter and promoter group entities, as well as institutional creditors, did not participate in the voting process.

Key Creditors Supporting the Scheme

The largest single vote came from Jubilant Ingrevia Ltd., which holds a debt claim of ₹6.15 crore, accounting for 48.91% of the total value voted. Other significant supporters included Jubilant Pharmova Ltd. (₹1.18 crore, 9.40%) and Macro Polymer (₹1.28 crore, 10.18%).

Regulatory Compliance

The proceedings complied with Regulation 30 and Regulation 44 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Hariom Pandey, Company Secretary, signed the summary of proceedings and the scrutinizer's report on behalf of the company.

The combined voting results for both shareholders and creditors have been disclosed to the stock exchanges. The next step involves submitting these results to the NCLT for final approval of the scheme.

Jubilant Agri & Consumer Products concluded its 18th Annual General Meeting on September 1, 2026. The company secured shareholder approval for all four ordinary resolutions placed before the meeting.

The virtual gathering commenced at 11:00 am and ended at 11:48 am. A total of 66 members attended via video conferencing. Chairman Priyavrat Bhartia presided over the proceedings, while CEO Mohandeep Singh and CFO Umesh Sharma were among the key management personnel present.

Voting Outcomes

Shareholders voted overwhelmingly in favor of all agenda items. The promoter group held 11,266,637 shares and voted entirely in favor of every resolution. Public institutional investors participated with 5,494 votes polled out of 60,602 held. Non-institutional public shareholders cast 147,023 votes from their holding of 3,825,254 shares.

Key Agenda Items

The primary business included adopting the audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026. Statutory auditors BGJC & Associates LLP and secretarial auditors Sanjay Grover & Associates provided unqualified opinions on these reports.

Another critical resolution involved the reappointment of Chairman Priyavrat Bhartia, who retires by rotation. The board also sought approval for commission payments to independent directors and ratified the remuneration of the cost auditor appointed by the board.

Attendance Details

Non-executive director Shamit Bhartia was absent due to prior commitments. All other independent directors, including Radhey Shyam Sharma, Ravinder Pal Sharma, and Sanjanthi Sajan, attended the meeting. The scrutinizer, DMK Associates, certified the voting process as compliant with SEBI listing regulations and the Companies Act, 2013.