Kaiser Corporation Limited’s Board of Directors has approved a Scheme of Amalgamation, with Emazing Deals Limited becoming the Transferor Company and Kaiser Corporation Limited the Transferee Company. This significant decision, subject to shareholder and regulatory approvals, aims to integrate the operations of both entities. The Board also appointed various professionals, including a registered valuer, merchant banker, and auditors, to facilitate the process and confirmed the date for the 33rd Annual General Meeting.
Kaiser Corporation Board Approves Amalgamation Scheme
In a key strategic move, the Board of Directors of Kaiser Corporation Limited convened on August 21, 2026, to approve a Scheme of Amalgamation. Under this scheme, Emazing Deals Limited will be amalgamated into Kaiser Corporation Limited, with Emazing Deals acting as the “Transferor Company” and Kaiser Corporation as the “Transferee Company”. This decision follows recommendations from the Audit Committee and the Independent Directors’ Committee.
The proposed amalgamation is to be undertaken in accordance with the provisions of Sections 230 to 232 of the Companies Act, 2013. This significant step is contingent upon securing approvals from the respective shareholders and creditors of both companies, as well as the jurisdictional bench of the National Company Law Tribunal (NCLT). Further approvals from the Stock Exchanges and other competent authorities as directed by the NCLT will also be required. Kaiser Corporation Limited will proceed to file the Scheme of Amalgamation with the Stock Exchange as per Regulation 37 of the SEBI LODR Regulations.
Key Appointments and 33rd AGM Details
In relation to the proposed merger, the Board approved the appointment of several key professionals. Mr. Nikhil P Chandak has been appointed as the Registered Valuer. Navigant Corporate Advisors Limited will serve as the SEBI Registered Category 1 Merchant Banker, tasked with providing a fairness opinion report. Furthermore, Mr. Asim Kumar Santara, a Chartered Accountant, has been appointed to provide a certificate of pricing of equity shares and networth certificate.
The Board also authorized Directors, the Chief Financial Officer, and/or the Company Secretary to file necessary applications with regulatory authorities, including Stock Exchanges, SEBI, and NCLT, to ensure the smooth progression of the transaction.
Details for the upcoming 33rd Annual General Meeting (AGM) were also confirmed:
- Date and Time: Monday, September 28, 2026, at 11:30 a.m.
- Notice of AGM: The draft copy of the 33rd AGM Notice was approved.
- Book Closure: September 22, 2026, to September 28, 2026 (inclusive).
- E-voting Period: Starts at 9:00 a.m. on September 25, 2026, and ends at 5:00 p.m. on September 27, 2026.
- Cut-off Date: September 21, 2026.
Other Professional Appointments
The Board also approved the appointment of M/s. Sameer Panchal & Associates as the Scrutinizer for the ensuing Annual General Meeting to oversee the remote e-voting and ballot form process. Additionally, Divya Mohta, Practicing Company Secretaries, was appointed as the Secretarial Auditor for a period of five years, commencing from the conclusion of the upcoming AGM until the conclusion of the 38th AGM in 2031. The appointment is subject to shareholder approval.
Further, on the recommendation of the Audit Committee, the Board approved the appointment of P. D. Chopda & Co., Chartered Accountants, as the Internal Auditors. For the role of Statutory Auditors for a term of five years, from the financial year 2026-27 to 2030-31, the Board proposed the appointment of Ganesh & Rajendra Associates, Chartered Accountants, pending shareholder approval.
Source: BSE
