Lyka Labs has provided an update on its ongoing amalgamation proceedings with Lyka Exports Limited. The National Company Law Tribunal (NCLT), Ahmedabad Bench, has reserved its order on the scheme of amalgamation between Lyka Exports Limited and Lyka Labs Limited after the Income Tax Department confirmed no objection to the merger application.

Key Developments

• Order Reserved: The NCLT has reserved its order on the amalgamation scheme between Lyka Exports Limited and Lyka Labs.

• Income Tax Department Clearance: The Income Tax Department has confirmed no objection to the merger application.

• Procedural Milestone: This development marks a key procedural milestone in the companies' merger process.

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 reservation of the order by the NCLT, following the Income Tax Department's clearance, signifies progress in the merger proceedings.

Investors and stakeholders are advised to keep a close watch on further developments in this matter, as the final outcome of this case could have implications for the corporate structure and operations of Lyka Labs.

The company awaits the final order from the NCLT, which will determine the next steps in the amalgamation process. This decision is expected to provide clarity on the future direction of the merger between Lyka Exports Limited and Lyka Labs Limited.

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

Impact on Shareholding

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.