Prima Plastics Secures NCLT Approval for Crucial Shareholder Meeting on Demerger Scheme

Prima Plastics Limited (PPL) has received a significant directive from the National Company Law Tribunal (NCLT), Ahmedabad Bench, marking a pivotal step in its proposed corporate restructuring. The NCLT has instructed the company to convene a court-mandated meeting of equity shareholders and unsecured creditors on September 27, 2025, to discuss and deliberate on the Scheme of Arrangement between Prima Plastics Limited and Prima Innovation Limited.

Key Developments

• NCLT Order: The NCLT pronounced its order on July 25, 2024, in response to Prima Plastics' first motion application.
• Meeting Date: The court-convened meeting is scheduled for September 27, 2025.
• Purpose: The meeting will address the proposed Scheme of Arrangement between Prima Plastics Limited and Prima Innovation Limited.

Next Steps

1. Notice Preparation: Prima Plastics is currently finalizing the Notice and Explanatory statement as required under Sections 230-232 of the Companies Act.
2. Circulation of Documents: The company will circulate these documents to equity shareholders and unsecured creditors within the prescribed timelines, adhering to the NCLT order and applicable provisions of the Companies Act and SEBI regulations.
3. Second Motion Application: Following the meeting, Prima Plastics will complete the necessary formalities to file the second motion application with the NCLT.

Additional Information

According to the LODR (Listing Obligations and Disclosure Requirements) filing dated July 26, 2025:

• The company had previously intimated about the Scheme of Arrangement on November 12, 2024.
• The NCLT order and related documents will be available on the company's website at https://www.primaplastics.com/scheme_arrangement.php
• Prachi M. Mankame, Company Secretary and Compliance Officer (M. No: A67042), signed the LODR disclosure.

This development represents a crucial phase in Prima Plastics' corporate journey, potentially leading to significant changes in its structure and operations. Shareholders and creditors will play a vital role in the upcoming meeting, which could shape the future direction of the company.

Investors and stakeholders are advised to keep a close watch on further announcements and to review the detailed documents that will be circulated by the company in the coming weeks.