Prima plastics Limited has received the certified true copy of the National Company Law Tribunal (NCLT) order sanctioning its demerger scheme and has set the effective date for the corporate restructuring.

NCLT Order and Timeline

On March 24, 2026, Prima Plastics Limited received the certified true copy of the NCLT Ahmedabad Bench order that sanctions the scheme of demerger. The company had earlier intimated about receiving the initial NCLT order on March 16, 2026. Following receipt of the certified copy, the company has now fixed March 31, 2026 as the effective date for implementing the demerger scheme.

Demerger Structure

The scheme involves a demerger between Prima Plastics Limited, serving as the demerged company, and Prima Innovation Limited, which will be the resulting company. The restructuring affects both companies' respective shareholders and creditors under the approved framework.

Regulatory Compliance

The demerger scheme has been sanctioned under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013. The company has made this disclosure in compliance with Regulation 30, 37 and other applicable regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, along with SEBI Circular no. SEBI/HO/CFD/POD-2/P/CIR/2023/93 dated June 20, 2023.

Implementation Authorization

Prima Plastics Limited has authorized its designated signatories to undertake all necessary actions required to implement the demerger scheme effectively. The company secretary and compliance officer Nehal Goyal has signed the regulatory filing, ensuring proper documentation and compliance with listing requirements.

The demerger represents a significant corporate restructuring move for Prima Plastics Limited, a manufacturer of moulded furniture and roto moulded products, as it separates its business operations through the newly structured entities.

Prima Plastics Limited has received regulatory approval for its corporate restructuring initiative, with the National Company Law Tribunal sanctioning a significant scheme of arrangement. The development marks an important milestone in the company's strategic reorganization efforts.

NCLT Approval Details

The Hon'ble National Company Law Tribunal, Ahmedabad Bench has sanctioned the Scheme of Arrangement involving Prima Plastics Limited and Prima Innovation Limited, along with their respective shareholders and creditors. The order was issued on March 16, 2026, and was uploaded on the NCLT website on the same day.

Scheme Implementation

The approved scheme has been structured under Sections 230 to 232 read with other applicable provisions of the Companies Act, 2013. The arrangement encompasses both companies along with their respective shareholders and creditors, indicating a comprehensive corporate restructuring exercise.

The scheme will come into effect from the date of filing the certified copy of the NCLT order with the Registrar of Companies, which is defined as the "Effective Date" under the scheme provisions. The company is currently awaiting the certified copy of the order for this filing process.

Regulatory Compliance

Prima Plastics Limited has made this disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement was signed by Nehal Goyal, Company Secretary & Compliance Officer, ensuring proper regulatory compliance.

The company has also made the NCLT order available to stakeholders through its investor relations portal, demonstrating transparency in corporate communications. This accessibility allows shareholders and other interested parties to review the complete details of the sanctioned scheme.