NCLT Grants Final Opportunity to Income Tax Department in Lyka Labs Amalgamation Case

Lyka Labs has provided an update on its ongoing amalgamation proceedings with Lyka Exports Limited. The National Company Law Tribunal (NCLT), Ahmedabad Bench, has issued a final opportunity to the Income Tax Department to submit their response regarding the amalgamation scheme.

Key Developments

Final Opportunity: The NCLT has granted the Income Tax Department one week to file their reply concerning the amalgamation scheme between Lyka Exports Limited and Lyka Labs.
Non-Compliance: The Income Tax Department failed to comply with the previous order dated October 9, 2025, which required them to submit their response.
Next Hearing: The NCLT has scheduled the matter for further consideration on December 4, 2025.
Order Receipt: Lyka Labs received a copy of the tribunal order on November 7, 2025.

Timeline of Events

Date	Event
October 9, 2025	Initial NCLT order directing Income Tax Department to submit report
October 11, 2025	Lyka Labs' earlier intimation about the NCLT direction
November 6, 2025	NCLT grants final opportunity to Income Tax Department
November 7, 2025	Lyka Labs receives copy of NCLT order
December 4, 2025	Scheduled date for further consideration of the case

The company has made this information available on its website ( www.lykalabs.com ) and has duly informed the stock exchanges as per regulatory requirements.

This development is a crucial step in the ongoing process of the proposed amalgamation between Lyka Exports Limited and Lyka Labs. The outcome of this case could have significant implications for the corporate structure and operations of Lyka Labs.

Investors and stakeholders are advised to keep a close watch on further developments in this matter, as the resolution of this case may impact the company's future strategic decisions and financial position.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.50%	+0.03%	-0.93%	-13.17%	-39.63%	+454.99%

Lyka Labs Limited , a company listed on both BSE and NSE, has reported a significant change in its promoter shareholding. Kunal Gandhi, a promoter of the company, has increased his stake through a substantial share acquisition.

Key Details of the Transaction

Aspect	Details
Acquirer	Kunal Gandhi (Promoter)
Shares Acquired	13,50,000
Stake Acquired	4.08%
Mode of Acquisition	Transmission
Previous Holder	Narendra I. Gandhi (HUF)
Transaction Date	June 27, 2023

Impact on Shareholding

Shareholder	Before Transaction	After Transaction
Kunal Gandhi	10,69,152 (3.23%)	24,19,152 (7.31%)
Promoter Group	56,97,161 (17.22%)	56,97,161 (17.22%)

Additional Information

The total promoter group holding, including persons acting in concert, remains unchanged at 17.22%.
Persons acting in concert include Nehal N. Gandhi, Enai Trading and Investment Private Limited, and Lyka Generics Limited.
Lyka Labs' total equity share capital stands at 3,30,90,000 shares.

This transaction represents a significant increase in Kunal Gandhi's individual stake in Lyka Labs, more than doubling his shareholding percentage. However, it's important to note that the overall promoter group holding has not changed as a result of this internal transfer of shares.