EPL Receives BSE and NSE No-Adverse-Observation Letters on Merger of Indovida India
- Mergers & acquisitions
- Packaging
EPL Limited has told the exchanges that on 19 Oct 2026 it received observation letters with no adverse observations from BSE and NSE for the scheme of amalgamation, by merger by absorption, of Indovida India Private Limited with EPL and their respective shareholders, under Sections 230 to 232 of the Companies Act, 2013. The board approved the scheme on 29 Mar 2026, and the company applied to the exchanges on 22 Apr 2026.
The exchanges pass on SEBI's comments of 16 Oct 2026. They include that EPL must disclose to the tribunal and shareholders all details of ongoing adjudication, recovery and enforcement proceedings against it, its promoters and directors; that financials used in the scheme, including for valuation, be no more than six months old; that all liabilities of the transferor company pass to EPL; and that the notice to shareholders prominently disclose the scheme's details and the rationale, impact and valuation.
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