Mac Charles (India) Limited , a prominent player in the Indian real estate sector, has taken a significant step forward in its corporate restructuring plans. The company has filed its first motion application with the National Company Law Tribunal (NCLT), Bengaluru Bench, marking a crucial milestone in its proposed Scheme of Arrangement with Embassy Prism Ventures Limited.

Key Developments

• NCLT Filing: Mac Charles (India) Limited submitted the first motion application to the NCLT, Bengaluru Bench on October 1, as confirmed by the company's official communication to the Bombay Stock Exchange (BSE).

• BSE Approval: The filing follows the BSE's approval through an observation letter dated August 21. Notably, the BSE raised no adverse observations or objections and suggested no modifications to the proposed scheme.

• Scheme Participants: The Scheme of Arrangement involves Mac Charles (India) Limited as the demerged company and Embassy Prism Ventures Limited as the resulting company, along with their respective shareholders.

• Regulatory Compliance: Mac Charles (India) Limited has affirmed its compliance with all comments stipulated in BSE's observation letter that were relevant for filing the first motion application.

Scheme Details

The Scheme of Arrangement falls under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013. While specific details of the arrangement are not disclosed in the available information, such schemes typically involve restructuring of businesses, assets, or liabilities between two or more companies.

Market Implications

This development signifies Mac Charles (India) Limited's proactive approach to corporate restructuring, potentially aimed at enhancing operational efficiency or unlocking shareholder value. The smooth progress of the scheme, evidenced by the BSE's approval without any adverse observations, may be viewed positively by market participants.

Next Steps

With the first motion application now filed with the NCLT, the next stages in the process will likely involve court hearings, potential stakeholder meetings, and further regulatory procedures before the Scheme of Arrangement can be fully implemented.

Investors and market observers will be keenly watching the progress of this corporate action, as it could have significant implications for the future structure and operations of Mac Charles (India) Limited and Embassy Prism Ventures Limited.

Mac Charles (India) Limited , a prominent player in the real estate and hospitality sectors, has announced the appointment of Ms. Barkha Mahtani as an Additional Director and Independent Director, effective August 6, 2025. The appointment, approved by the company's Board of Directors, is for a consecutive term of five years.

Key Details of the Appointment

Professional Experience

Ms. Mahtani brings a wealth of experience to her new role. She is described as a seasoned restaurateur with a strong background in hospitality operations. Her profile highlights her as a results-driven professional with a proven track record of delivering high-quality experiences and fostering strong relationships.

Skills and Attributes

The company's statement emphasizes Ms. Mahtani's exceptional composure under pressure and her ability to navigate complex situations with poise and precision. Her expertise in driving operational excellence and exceeding customer expectations is expected to be valuable to Mac Charles (India) Limited.

Compliance and Eligibility

Mac Charles (India) Limited has confirmed that Ms. Mahtani is not debarred from holding the office of Director by the Securities and Exchange Board of India (SEBI) or any other authority. The company also stated that she has no existing relations with other company directors, ensuring her independence in the role.

Company's Perspective

The appointment of Ms. Mahtani aligns with Mac Charles (India) Limited's commitment to strengthening its board with diverse and experienced professionals. Her background in hospitality and operational excellence is likely to contribute significantly to the company's strategic direction and governance.

Concurrent Board Changes

Alongside Ms. Mahtani's appointment, the company has also announced the completion of Ms. Tanya John's tenure as an Independent Director. Ms. John will cease to be an Independent Director effective August 19, 2025, upon completing her two consecutive terms.

This board restructuring reflects Mac Charles (India) Limited's ongoing efforts to maintain a dynamic and effective leadership team as it navigates the evolving real estate and hospitality landscapes.