Asian Granito India Limited (AGIL) conducted a National Company Law Tribunal (NCLT)-convened meeting of equity shareholders on September 19, 2025, to discuss a significant corporate restructuring initiative. The meeting, held via video conferencing, focused on a composite scheme of arrangement involving the demerger between Asian Granito India Limited, Adicon Ceramica Tiles Private Limited, and Adicon Ceramics Limited.

Meeting Details

The virtual meeting, which commenced at 10:30 AM and concluded at 10:47 AM IST, was chaired by Mr. S.B. Gautam, an ex-NCLT member. Shareholders participated in the proceedings through video conferencing, adhering to modern corporate governance practices in the digital age.

Demerger Scheme

The primary agenda of the meeting was to consider and vote on the proposed composite scheme of arrangement. This scheme involves a demerger between:

1. Asian Granito India Limited
2. Adicon Ceramica Tiles Private Limited
3. Adicon Ceramics Limited

The demerger is expected to have implications for the respective shareholders and creditors of these entities.

Voting Process

Shareholders were given the opportunity to vote on the proposed demerger scheme through two methods:

1. Remote e-voting
2. E-voting during the meeting

This dual voting approach ensures maximum participation and transparency in the decision-making process.

Compliance and Disclosure

The meeting and voting procedures were conducted in compliance with the provisions of the Companies Act, 2013, and the circulars issued by the Securities and Exchange Board of India (SEBI). This adherence to regulatory requirements underscores the company's commitment to corporate governance and shareholder rights.

Next Steps

Asian Granito India Limited has announced that the results of both the remote e-voting and e-voting conducted during the meeting will be:

1. Uploaded on the company's official website ( www.aglasiangranito.com )
2. Notified to the stock exchanges separately

Investors and stakeholders are advised to keep an eye on these platforms for the outcome of the voting on the demerger scheme.

The company's proactive approach in conducting this NCLT-convened meeting and its transparent communication with shareholders reflect its dedication to keeping stakeholders informed about significant corporate actions that may impact the company's structure and operations.

As the voting results are yet to be announced, interested parties should monitor official company communications for further developments regarding this important corporate restructuring initiative.

Asian Granito India Limited (AGIL) conducted two crucial meetings on September 18, as part of its ongoing corporate restructuring process. The National Company Law Tribunal (NCLT)-convened meetings were held to consider a composite scheme of arrangement involving a demerger between AGIL, Adicon Ceramica Tiles Private Limited, and Adicon Ceramics Limited.

Meeting Details

The meetings, which took place at the Ahmedabad Management Association, were chaired by Mr. S. B. Gautam, a former NCLT member. The schedule was as follows:

Purpose and Proceedings

The primary objective of these meetings was to seek approval from both secured and unsecured creditors for the proposed demerger scheme. During each session, creditors were given the opportunity to vote by poll on the resolution concerning the scheme of arrangement.

Demerger Scheme

The composite scheme of arrangement under consideration involves a demerger between:

1. Asian Granito India Limited
2. Adicon Ceramica Tiles Private Limited
3. Adicon Ceramics Limited

This restructuring aims to reorganize the company's operations, potentially leading to improved efficiency and focused business strategies for each entity involved.

Voting and Results

Both meetings saw creditors casting their votes through a polling process. The company has stated that the results of these polls will be:

1. Uploaded on the official website of Asian Granito India Limited ( www.aglasiangranito.com )
2. Notified separately to the stock exchanges

Regulatory Compliance

The meetings and subsequent disclosures are in line with regulatory requirements, including:

• Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosures) Regulations, 2015
• Regulation 37 of the SEBI (Listing Obligations and Disclosures) Regulations, 2015

Management Statement

Dhruti Trivedi, Company Secretary and Compliance Officer of Asian Granito India Limited, confirmed that the required quorum was present for both meetings, ensuring their validity under NCLT directions.

The outcome of these meetings and the subsequent poll results will be crucial in determining the future structure of Asian Granito India Limited and its associated companies. Stakeholders and market observers will be keenly awaiting the official announcement of the voting results to gauge the path forward for this significant corporate action.