PALCO METALS LIMITED : NCLT ALLOWS SCHEME OF ARRANGEMENT

• Hon'ble NCLT, Ahmedabad Bench, allowed the First Motion Application for the Scheme of Arrangement between Palco Metals Limited (Transferee Company) and Palco Recycle Industries Limited (Transferor Company). • The order directs the convening of meetings for Equity Shareholders of the Transferee Company and Secured and Unsecured Creditors of both companies. • Meetings to be convened within 45 days of the order, with reports to be filed within 7 days of the meetings. • The Scheme is subject to requisite approvals from shareholders and creditors, and subsequent sanction by the NCLT and other regulatory authorities. • A copy of the NCLT order has been enclosed and is available on the company's website.

Palco Metals Ltd

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