Maithan Alloys Ltd promoter Subhas Chandra Agarwalla declared that no new encumbrance has been created on the company's shares during the financial year ending March 31, 2026. The disclosure, submitted to the stock exchanges, confirms that no direct or indirect encumbrance was made by the promoter or persons acting in concert (PAC) other than those previously disclosed.

The declaration was made in accordance with Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation mandates promoters to disclose any encumbrance on shares to ensure transparency for shareholders.

The list of persons acting in concert with the promoter as of March 31, 2026, includes 12 individuals and one Hindu Undivided Family (HUF). All identified members belong to the Promoter or Promoter Group category.

Persons Acting in Concert

The following table details the individuals and entities classified as PACs with the promoter:

The disclosure was signed by Subhas Chandra Agarwalla on April 6, 2026, and addressed to the National Stock Exchange of India Ltd, BSE Limited, and The Calcutta Stock Exchange Limited.

The National Company Law Tribunal (NCLT), Kolkata Bench, has sanctioned the scheme of amalgamation between Impex Metal & Ferro Alloys Limited and Maithan Alloys Limited . The order, dated 8 June 2026, approves the merger with the appointed date set as 31 March 2024. The merger involves the absorption of Impex Metal & Ferro Alloys, a wholly owned subsidiary, into Maithan Alloys.

As the transferor company is a wholly owned subsidiary, no shares will be allotted by Maithan Alloys pursuant to the scheme. Consequently, there will be no change in the promoters' holding, which remains the same percentage pre and post-amalgamation. The scheme will become effective upon filing the certified copy of the NCLT order in Form INC-28 with the Registrar of Companies, Kolkata.

The tribunal noted that the transferor company is not listed, while the transferee company is listed on the National Stock Exchange of India and Calcutta Stock Exchange and permitted for trading on the Bombay Stock Exchange. The scheme was filed under Sections 230 and 232 of the Companies Act, 2013. Meetings of equity shareholders and unsecured creditors were dispensed with, as the transferor company had no secured creditors.

Financial Position

The net worth of the entities involved as on the appointed date is detailed below:

Regulatory Compliance and Undertakings

The Regional Director observed that the transferor company was under inquiry under Section 206 of the Companies Act, 2013. In response, Maithan Alloys undertook to make necessary submissions on behalf of the transferor company and represent it before the appropriate authority until final disposal. The tribunal directed that the transferor company's directors cooperate with inquiry proceedings and that records not be destroyed until completion.

The tribunal directed that all properties, rights, interests, liabilities, and duties of the transferor company be transferred to the transferee company. The transferor company will stand dissolved from the effective date. The applicant companies are required to file a certified copy of the order with the Registrar of Companies in Form INC-28 within 30 days from the date of receipt of the order.