True Colors Limited will convene meetings of equity shareholders and unsecured creditors on September 28, 2026, to consider and approve the scheme of amalgamation with Inkia Inks Private Limited. The corporate action follows an order dated August 17, 2026, from the National Company Law Tribunal (NCLT), Ahmedabad Bench.

The meetings are scheduled to be held through video conferencing or other audio-visual means. Shareholders and creditors can participate in remote e-voting starting Friday, September 25, 2026, at 9:00 am and ending Sunday, September 27, 2026, at 5:00 pm.

Meeting Details

The company issued notices to equity shareholders on August 27, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Notices were also sent to unsecured creditors. The advertisements for these meetings were published in Financial Express and Sandesh newspapers on August 28, 2026.

True Colors Limited has engaged National Securities Depository Limited (NSDL) to facilitate the e-voting process. Mr. R. D. Gupta, Retd. OL, has been appointed as Chairman, and Mr. Mahendra Parmar as Scrutinizer for the meetings. Results will be declared within two working days of the conclusion of the meetings.

True Colors Limited has approved the formation of a joint venture (JV) company to expand its operations into the manufacturing, processing, coating, converting, and marketing of paper, specialty paper, and allied paper-based products.

The board of directors, in a meeting held on August 17, 2026, authorized the creation of the proposed entity, tentatively named "True Colors Advance Materials Private Limited," subject to name availability and trademark clearance. The listed entity will hold a 50% stake in the JV, which is yet to be incorporated but is expected to be established within 60 days. The transaction involves cash consideration at ₹10 per share and does not constitute a related-party transaction, with no promoter or group company interest in the target entity.

Strategic Expansion

The formation of the JV aims to leverage the complementary strengths of True Colors Limited and its identified partners to pursue mutually beneficial business opportunities. The company stated that the partnership is expected to utilize the expertise, resources, and market presence of both parties to create long-term value. The JV will operate within India, focusing on the production and marketing of advanced paper-based materials.

Auditor Appointments

Alongside the strategic approval, the board ratified key statutory appointments for the financial year 2026-27:

• Internal Auditor: M/s. Dali Shah & Associates (FRN: 158874W) was re-appointed as the internal auditor for FY26-27 under Section 138 of the Companies Act, 2013.
• Cost Auditor: M/s. B H Kevadiya & Co. (FRN: 003946W) was re-appointed as the cost auditor for FY26-27 under Section 148 of the Companies Act, 2013.
• Secretarial Auditor: M/s. ALAP & Co. LLP (FRN: L2023GJ013900) was appointed as the secretarial auditor for a five-year term spanning from FY26-27 to FY30-31, subject to shareholder approval at the ensuing Annual General Meeting.

The board meeting commenced at 5:00 pm and concluded at 6:40 pm at the company’s registered office in Surat, Gujarat.