Magnum Ventures Limited received approval from the National Company Law Tribunal (NCLT), Allahabad Bench, on September 22, 2026, regarding the first motion for its proposed scheme of arrangement.

The tribunal permitted the convening of separate meetings for equity shareholders, secured non-convertible debenture holders, secured creditors, and unsecured creditors of the demerged company. These meetings are scheduled for November 20, 2026, via video conferencing with remote e-voting facilities.

Scheme structure and share exchange ratio

The scheme involves the demerger of the paper manufacturing vertical from Magnum Ventures into Magnum Paperz Limited, a newly incorporated entity. The hotel business, operating under the brand "Country Inn & Suites by Radisson," will remain with Magnum Ventures. To facilitate this separation, the tribunal approved a specific share exchange ratio designed to preserve shareholder equity continuity.

The resulting company will issue two new equity shares of face value ₹10 each to every ten equity shares held in the demerged company. Similarly, nine new compulsorily redeemable preference shares of face value ₹100 each will be issued for every ten such shares held by preference shareholders.

Meeting logistics and approvals

The NCLT dispensed with the requirement to hold meetings for preference shareholders of the demerged company and all stakeholders of the resulting company, citing consent affidavits already on record. For the demerged company, Mr. Gaurav Mahajan was appointed as the common chairperson, while Mr. Dhruv Saxena was named alternate chairperson. Mr. Ramesh Chandra Agarwal will serve as the common scrutinizer.

Notices for the meetings must be sent 30 days in advance, accompanied by the scheme documents and explanatory statements. The companies are also required to publish advertisements in Business Standard (English and Hindi editions) at least 30 days prior to the meetings.

What the numbers show

The scheme mandates a proportionate reduction of share capital in Magnum Ventures to align its capital structure with the residual hotel business after transferring the paper assets. This reduction is not a buyback or liability diminution but a structural adjustment to ensure the post-scheme net worth reflects the retained operations. Consequently, the inter-se shareholding pattern and voting rights remain unchanged, ensuring no preferential benefit accrues to any specific shareholder class.

Magnum Ventures Limited held its 46th Annual General Meeting (AGM) on September 25, 2026, at 2:00 pm through Video Conferencing. The meeting focused on the adoption of standalone and consolidated financial statements for the fiscal year ended March 31, 2026.

The proceedings were conducted in compliance with the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Ms. Aaina Gupta, Company Secretary, welcomed members and introduced the directors and auditor. Mr. Parveen Jain, Chairman, presided over the meeting after confirming the requisite quorum was present.

Key agenda items addressed

The Company Secretary placed several items of business before the shareholders for approval. These included the adoption of audited financial reports and various directorial appointments:

• Adoption of Audited Standalone and Consolidated Financial Statements for FY26.
• Re-appointment of Mr. Shiv Pravesh Chaturvedi as a Director retiring by rotation.
• Ratification of remuneration for M/s V K Dube & Co., cost accountants, for the cost audit for FY27.
• Re-appointment of Ms. Shalini Rahul as an Independent Director.
• Re-appointment of Mr. Abhay Jain as Managing Director.
• Re-appointment of Mr. Shiv Pravesh Chaturvedi as Whole-time Director.

Voting and shareholder engagement

The company provided remote e-voting facilities to members in accordance with regulatory provisions. The voting window opened at 9:00 am on September 22, 2026, and closed at 5:00 pm on September 24, 2026. During the live session, shareholders who had registered as speakers in advance were given the opportunity to raise queries, which the management addressed to their satisfaction.

M/s Munish K Sharma & Associates LLP served as the scrutiniser for the e-voting process. The Chairman delivered a welcome speech, and the meeting concluded with a vote of thanks from the Company Secretary at 2:35 pm. The final voting results for both remote e-voting and e-voting during the AGM are pending the submission of the scrutiniser's report.