Mawana Sugars Limited has received approval from the National Company Law Tribunal (NCLT) New Delhi for the admission of its second motion petition regarding the scheme of amalgamation with Mawana Foods Private Limited. Following the tribunal's order on March 18, 2026, the company has now fulfilled its mandatory publication requirements by publishing newspaper advertisements on March 21, 2026.

NCLT Order and Compliance Update

The NCLT New Delhi Bench, comprising Hon'ble Member (Judicial) Shri Mahendra Khandelwal and Hon'ble Member (Technical) Ms. Anu Jagmohan Singh, admitted the petition filed under Sections 230 to 232 of the Companies Act, 2013. The company has now complied with the tribunal's directive by publishing the required newspaper advertisements.

Publication Requirements Fulfilled

Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Mawana Sugars has informed both BSE Limited (Scrip Code: 523371) and National Stock Exchange of India Ltd (Scrip Symbol: MAWANASUG) about the newspaper publication.

The advertisements have been published in the following newspapers as mandated by the tribunal:

Authority Notification and Response Timeline

The tribunal has mandated service of notices to various statutory authorities including Securities and Exchange Board of India (SEBI), BSE Limited and National Stock Exchange of India Limited, Ministry of Corporate Affairs through Regional Directors, Registrar of Companies (ROC), Income Tax authorities, and Official Liquidators.

Under Section 230(5) of the Companies Act, 2013, all notified authorities have 30 days from the date of receipt of notice to submit their representations regarding the proposed amalgamation scheme. The tribunal has clarified that failure to respond within this period will be presumed as having no objections to the proposal.

Next Steps and Timeline

The companies must file affidavits evidencing proof of service within 7 days of serving notices to the authorities. The matter has been listed for further proceedings on May 13, 2026, when the tribunal will consider any representations received from the statutory authorities and proceed with the final hearing of the amalgamation scheme.

This development represents the continuation of the amalgamation process that began with the first motion petition (CA(CAA)-80/ND/2025) passed on December 18, 2025, where meetings of unsecured creditors and equity shareholders were ordered and other meetings were dispensed with.

Mawana sugars Limited has achieved a favorable outcome in its ongoing tax litigation, with authorities cancelling a ₹1,22,415 SGST liability that was imposed on the company's Nanglamal Sugar Complex unit.

Background of the Tax Dispute

The litigation originated from a notice issued by the Office-Joint Commissioner (Corporate Cell) S.G.S.T. Office, Meerut, Uttar Pradesh, which had been communicated to exchanges on August 27, 2025. The tax authorities had alleged that the company's Nanglamal Sugar Complex unit generated double e-way bills on invoices across three separate cases, leading to the imposition of the liability.

Legal Challenge and Resolution

In response to the SGST liability, Mawana Sugars filed a comprehensive representation before the Office of the Joint Commissioner of (Corporate Cell) S.G.S.T. Office in Meerut, Uttar Pradesh. The company's legal strategy proved successful as the authorities reviewed and accepted their arguments.

Official Outcome

After careful consideration of the representation filed by Mawana Sugars, the Hon'ble Joint Commissioner decided to cancel the entire SGST liability. This decision eliminates the financial burden that the company was facing due to the alleged double e-way bill generation issue.

Regulatory Compliance

The company has maintained transparency throughout the process by providing regular updates to stock exchanges under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The resolution of this matter demonstrates the company's commitment to addressing regulatory challenges through proper legal channels.

This favorable outcome provides financial relief to Mawana Sugars and resolves the uncertainty surrounding the tax liability that had been pending since the original notice was issued in August 2025.