India Glycols Limited has provided an update regarding the ongoing Scheme of Arrangement involving the company and its subsidiaries, Ennature Biopharma Limited and IGL Spirits Limited. Although the matter was scheduled for a hearing before the National Company Law Tribunal (NCLT), Allahabad Bench at Prayagraj on May 21, 2026, the proceedings could not be completed due to a lack of time. A new date for the hearing is currently pending.
Status of Corporate Restructuring
India Glycols Limited is currently navigating a Scheme of Arrangement that includes the demerger and restructuring of its business interests. This process involves the parent company and two specific entities: Ennature Biopharma Limited and IGL Spirits Limited. The company has been seeking the necessary approvals from the National Company Law Tribunal (NCLT), Allahabad Bench at Prayagraj, to move forward with the second motion petition.
Hearing Postponement
The matter was officially listed for further proceedings on May 21, 2026. However, due to the paucity of time on the court’s calendar, the tribunal was unable to take up the matter for hearing as scheduled. The company has confirmed that the next hearing date has not yet been notified by the authorities.
Next Steps
Management remains committed to keeping stakeholders informed regarding the progress of the scheme. Further updates concerning the hearing schedule will be shared with the exchanges and the public as soon as the company receives formal notification from the tribunal.
Source: BSE
