Mac Charles (India) Limited , a prominent player in the Indian real estate sector, has received a significant order from the National Company Law Tribunal (NCLT) regarding its proposed Scheme of Arrangement with Embassy Prism Ventures Limited. The company has now requested an extension for convening the equity shareholders' meeting due to certain factual discrepancies in the order.

Latest Development

Mac Charles (India) Limited received the order from the National Company Law Tribunal, Bengaluru Bench, on January 6, 2026. However, the company has identified certain factual discrepancies in the order that require rectification. Consequently, the company is seeking an extension for convening the equity shareholders' meeting as directed by the NCLT, citing paucity of time.

Background of the Scheme

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. The scheme operates under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013.

Previous Milestones

The company had previously achieved several key milestones in the restructuring process:

Regulatory Compliance

Mac Charles (India) Limited has maintained compliance with all regulatory requirements throughout the process. The BSE had earlier approved the scheme through an observation letter dated August 21, 2025, without raising any adverse observations or suggesting modifications to the proposed arrangement.

Next Steps

The company has indicated that it will provide updates shortly regarding the rectification of factual discrepancies and the extension request for the shareholders' meeting. The resolution of these issues will be crucial for the smooth progression of the Scheme of Arrangement.

Investors and stakeholders will be monitoring these developments closely, as the successful implementation of the scheme could have significant implications for both 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.