Pasupati Acrylons Limited (PAL) has announced a significant corporate restructuring within its promoter group, as approved by the National Company Law Tribunal (NCLT), New Delhi Bench. The NCLT has sanctioned a scheme of amalgamation that will consolidate several promoter group companies into Arihant Exports Private Limited (AEPL).

Merger Details

The approved scheme involves the merger of the following entities:

• MVA Finance Private Limited (MFPL)
• Inder Overseas Private Limited (IOPL)
• Nityanand Exports and Consultants Company Private Limited (NECCPL)
• VMA Finance Private Limited

These companies will be amalgamated into Arihant Exports Private Limited, which will serve as the transferee company.

Impact on Shareholding Structure

As a result of this merger, the shareholding structure of Pasupati Acrylon's promoter group will undergo inter-se changes. The shares of PAL currently held by MFPL, IOPL, and NECCPL will be consolidated under AEPL. Consequently, MFPL, IOPL, and NECCPL will cease to exist as separate entities.

Key Points

• The aggregate holding of the promoter and promoter group in Pasupati Acrylon Limited will remain unchanged at 65.87%.
• Pasupati Acrylon Limited itself is not a direct party to the amalgamation scheme.

Regulatory Compliance

In compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Pasupati Acrylon Limited has duly informed the stock exchanges about this development. The company received communication from the involved promoter group entities regarding the NCLT's approval of the scheme.

This corporate restructuring within the promoter group is expected to streamline the ownership structure of Pasupati Acrylon Limited, potentially leading to more efficient management of promoter holdings. However, it's important to note that this change does not affect the overall promoter stake in the company, which remains steady at 65.87%.

Pasupati Acrylon Limited , a key player in the chemical industry, has announced significant changes to its board of directors and committee structure. The company has appointed two new Non-Executive Independent Directors, Mr. Sudhir Agarwal and Mr. Sanjiv Nair, for a five-year term starting September 1, 2025. This move, approved by shareholders at the company's 42nd Annual General Meeting on September 18, 2025, aims to bring fresh perspectives and diverse expertise to the board.

New Appointments

Mr. Sudhir Agarwal

• Holds a B.Tech in Chemical Engineering from Harcourt Butler Technical University, Kanpur
• Brings over 39 years of experience in the chemical and process industries
• Expertise includes:
  • Plant operations
  • Project management
  • Energy and environment conservation
  • Waste management
  • Sustainability
  • Green energy concepts

Mr. Sanjiv Nair

• Retired Indian Administrative Services officer
• Previously served as:
  • Additional Chief Secretary of Uttar Pradesh
  • First Director General of the North East Centre for Technology Application and Reach
• Represented India at the World Meteorological Organization in Moscow for two years

Terms of Appointment

• Both Mr. Agarwal and Mr. Nair appointed for five consecutive years
• Term: September 1, 2025, to August 31, 2030
• Neither director is related to existing directors or key managerial personnel of Pasupati Acrylon Limited

Board Transitions

• Two outgoing independent directors completed their terms:
  • Mr. S.C. Malik (DIN: 00107170)
  • Mr. D.K. Kapila (DIN: 00060060)
• Both concluded their second term as Independent Directors at the 42nd Annual General Meeting
• Ceased to be directors and board committee members effective September 18, 2025

Committee Reconstitution

Effective September 18, 2025, Pasupati Acrylon Limited has reconstituted five Board committees:

Compliance and Governance

• Pasupati Acrylon Limited confirmed that Mr. Agarwal and Mr. Nair are not debarred from holding directorship positions by any SEBI order or other authority
• Complies with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
• Ms. Mehak Gupta of M/s. Mehak Gupta & Associates appointed as Secretarial Auditor for five years (FY 2025-26 to 2029-30)

These board changes, appointments, and committee reconstitutions reflect Pasupati Acrylon's commitment to maintaining strong corporate governance and bringing diverse expertise to its leadership team. The new directors and committee structure are expected to contribute significantly to the company's strategic direction and growth initiatives in the chemical sector.