Modern Insulators Limited has received an important update from the National Company Law Tribunal (NCLT) regarding its petition for a scheme of arrangement with Modern Denim Limited. The company disclosed this development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

NCLT Hearing Outcome

The Hon'ble NCLT Jaipur Bench conducted a hearing on January 22, 2026, and disposed of the company petition (C.P.(CAA) - 14/2022) filed by Modern Insulators Limited. The tribunal's decision came with specific conditions that the company must fulfill before proceeding further.

Regulatory Requirements and Next Steps

The NCLT has granted Modern Insulators Limited liberty to approach the tribunal again after completion of certain regulatory and procedural requirements. These requirements include obtaining necessary approvals from regulatory authorities, which the company must fulfill before resubmitting its petition.

The company is currently awaiting a certified copy of the NCLT order. Once received, Modern Insulators Limited will review the order thoroughly to understand the specific compliance requirements and determine the appropriate course of action.

Scheme of Arrangement Details

The scheme of arrangement involves Modern Insulators Limited and Modern Denim Limited, along with their respective shareholders and creditors. The company had previously filed the petition seeking necessary directions and approval from the NCLT for implementing this corporate restructuring initiative.

Compliance and Future Actions

Modern Insulators Limited has committed to taking appropriate steps to complete the requisite compliances for proceeding further in the matter. The company will ensure all actions are taken in accordance with applicable laws and regulations. The disclosure was signed by Animesh Banerjee, Executive Director (DIN: 07905214), on January 23, 2026.

Modern Insulators Limited has announced a significant leadership appointment, with its Board of Directors unanimously approving the elevation of Shri Shreyans Ranka to the position of Joint Managing Director. The decision, made on January 8, 2026, follows the recommendation of the company's Nomination and Remuneration Committee.

Appointment Details

The Board meeting, which commenced at 11:30 a.m. and concluded at 12:15 p.m., resulted in the approval of Ranka's appointment for a five-year term. The appointment is contingent upon shareholder approval, which will be sought through a postal ballot process.

Professional Background

Shreyans Ranka brings substantial experience to his new role, having served as Whole-Time Director of Modern Insulators since April 1, 2018. His expertise spans business operations, corporate management, and administration. Ranka's educational credentials include a Bachelor's degree in Industrial Engineering from the University of Illinois at Urbana-Champaign, USA, and a Master's in Management from Imperial Business School, London.

Family Connection

The appointment maintains the family leadership structure within the organization, as Shreyans Ranka is the son of Shri Sachin Ranka, who serves as Chairman & Managing Director of Modern Insulators Limited.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The postal ballot notice, along with the explanatory statement, will be distributed to company members in due course and simultaneously submitted to stock exchanges.

Next Steps

The appointment will become effective only upon receiving approval from the company's shareholders through the postal ballot process. Modern Insulators will proceed with the necessary regulatory filings and member communications to complete the appointment formalities.