The National Company Law Tribunal (NCLT), Ahmedabad Bench, on 14 May 2026 passed an order sanctioning the Scheme of Amalgamation of Kunal Plastics Private Limited with Ecoplast Limited and their respective shareholders and creditors. The order was pronounced in open court by Mrs. Chitra Hankare, Hon'ble Member (Judicial), and Dr. Velamur G Venkata Chalapathy, Hon'ble Member (Technical). Ecoplast Limited disclosed the development to BSE on 15 May 2026 pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Details of the Amalgamation Scheme

The amalgamation was filed as a joint Company Petition under Sections 230–232 of the Companies Act, 2013, read with the Companies (Compromise, Arrangement and Amalgamations) Rules, 2016. The following table summarises the key parameters of the approved scheme:

Regulatory Compliance and Approvals

Prior to the NCLT's sanction, the scheme underwent scrutiny from multiple statutory and regulatory authorities. The Board of Directors of both petitioner companies approved the Scheme of Amalgamation through Board Resolutions dated 14 December 2024. Shareholder meetings of the Transferor Company were dispensed with in view of 100% consent affidavits, while the meeting of equity shareholders of the Transferee Company and unsecured creditors of both companies was held on 28 November 2025 via video conferencing, with the requisite majority approving the scheme.

The Regional Director (North-Western Region) and the Registrar of Companies submitted observations, to which the petitioner companies filed a compliance affidavit dated 18 February 2026. Key undertakings provided by the petitioner companies included:

• Compliance with Section 232(3)(i) of the Companies Act, 2013, including payment of differential fees, if any
• Adherence to the BSE observation letter dated 05 June 2025 issued pursuant to SEBI Master Circular No. SEBI/HO/CFD/POD-2/P/CIR/2023/93 dated 20 June 2023
• Compliance with applicable FEMA provisions and RBI guidelines concerning a Foreign National/NRI/Foreign Body Corporate holding shares in the Transferor Company
• Preservation of books of accounts, papers, and records of the Transferor Company as required under Section 239 of the Companies Act, 2013
• No CIRP proceedings under IBC or winding-up proceedings pending against either petitioner company

The Official Liquidator filed a representation dated 20 January 2026 with no specific adverse observations. The Income Tax Department, in its report dated 30 March 2026, confirmed no outstanding demand against the applicant companies, while reserving its rights under applicable provisions of the Income Tax Act.

Financial and Operational Directions

The NCLT issued several specific directions as part of the order, including the following fee obligations:

The Transferee Company has also been directed to complete the assessment and payment of dues of the Transferor Company pertaining to the period prior to the scheme within a period of 1 year and provide an appropriate declaration on the outstanding amounts in its next financial balance sheet.

Effect of the Scheme and Next Steps

Upon coming into effect, the Transferor Company — Kunal Plastics Private Limited — shall stand dissolved without winding up. All properties, rights, powers, liabilities, and duties of the Transferor Company will vest in Ecoplast Limited pursuant to Section 232 of the Companies Act, 2013. All workers and employees of the Transferor Company shall be deemed to have become employees of the Transferee Company from the Appointed Date, with no break or discontinuance in service and on terms no less favourable than those previously applicable.

Ecoplast Limited noted that the certified copy of the NCLT order is awaited, and the scheme will be made effective upon filing the certified copy through E-Form INC-28 with the Registrar of Companies, Ahmedabad, Gujarat. The petitioner companies are further directed to lodge a copy of the order and the approved scheme with the concerned Superintendent of Stamps for adjudication of stamp duty, if any, within 60 days from the date of the order.

Ecoplast Limited has filed an intimation with BSE Limited regarding the transfer of equity shares in physical mode to the Investor Education Protection Fund (IEPF), in compliance with applicable SEBI circulars. The communication, dated May 4, 2026, was submitted by Company Secretary and Compliance Officer Rakesh Kumar Kumawat on behalf of the company, which is headquartered at National Highway No. 8, Water Works Cross Road, Abrama-Valsad, Gujarat.

Regulatory Framework

The transfer has been carried out pursuant to Clause (2)(c)(iii)(5) of SEBI Circular No. SEBI/HO/MIRSD/DOS3/CIR/P/2018/139 dated November 6, 2018, which pertains to the transfer of securities in physical mode. This is read in conjunction with SEBI Circular No. SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/97 dated July 2, 2025, which provides a special window for re-lodgement of transfer of shares in physical form.

Details of Equity Shares Transferred

The following equity shares were transferred by the company in physical mode to the Investor Education Protection Fund, as disclosed in the intimation:

Disclosure and Availability

Ecoplast Limited has noted that the above information is also available on the company's official website at www.ecoplastindia.com . The filing was digitally signed by Rakesh Kumar Kumawat, Company Secretary and Compliance Officer, on May 4, 2026.