Asian Granito India Limited (AGIL) has announced the voting results for its composite scheme of arrangement involving demerger between Asian Granito India Limited, Adicon Ceramica Tiles Private Limited, and Adicon Ceramics Limited. The scheme received overwhelming approval across all stakeholder categories during the National Company Law Tribunal (NCLT)-convened meetings held on September 18-19, 2025.

Voting Results

Meeting Details

The meetings were conducted following NCLT orders dated June 19 and July 4, 2025. The equity shareholders' meeting, held via video conferencing on September 19, 2025, commenced at 10:30 AM and concluded at 10:47 AM IST. Mr. S.B. Gautam, an ex-NCLT member, chaired the proceedings.

Voting Process

Shareholders were provided with two voting methods:

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

Ms. Neha Lakhanpal served as the scrutinizer for the voting process, ensuring transparency and compliance with regulatory requirements.

Compliance and Disclosure

The meetings 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).

Implications

The overwhelming approval of the demerger scheme across all stakeholder categories signifies strong support for the company's restructuring initiative. This corporate action is expected to have significant implications for the respective shareholders and creditors of Asian Granito India Limited, Adicon Ceramica Tiles Private Limited, and Adicon Ceramics Limited.

Next Steps

Asian Granito India Limited has stated that the detailed voting results 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 monitor these platforms for any further developments regarding this 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.