AYM Syntex Limited Conducts Unsecured Creditors Meeting to Approve Amalgamation Scheme

AYM Syntex Limited Conducts Unsecured Creditors Meeting to Approve Amalgamation Scheme​

AYM Syntex Limited held its Unsecured Creditors Meeting on Monday, May 25, 2026. The meeting was convened based on the order dated April 6, 2026, issued by the National Company Law Tribunal (NCLT), Mumbai Bench.

The meeting took place at 4:00 P.M. (IST) via Video Conferencing (VC) and other Audio Visual Means (OAVM).

Proceedings and Participants​

Ms. Mala Todarwal, appointed by the NCLT, chaired the proceedings. Mr. Kaushal Patvi, the Company Secretary, welcomed the Unsecured Creditors, Board of Directors, Scrutinizer, and other invitees, commencing the proceedings after confirming that the required quorum was present. Mr. Hitesh Gupta, a Practicing Company Secretary, was present as the Scrutinizer for the meeting.

The Chairperson briefed the attendees on the rationale and purpose of the Scheme of Amalgamation.

Approval of Amalgamation Scheme​

During the meeting, the Unsecured Creditors focused on considering and approving the Scheme of Amalgamation. The key transaction detailed was the amalgamation of Mandawewala Enterprises Limited (Transferor Company) with AYM Syntex Limited (Transferee Company) and their respective shareholders.

The meeting resulted in a resolution passed to approve the Scheme of Amalgamation, which operates under sections 230 to 232 of the Companies Act, 2013.

Following the discussion, e-voting was kept open for 15 minutes, enabling the Unsecured Creditors to cast their votes electronically.

The proceedings concluded at 4:15 P.M. (IST) with a vote of thanks to the Chairperson.

AYMSYNTEX Stock Price Movement​

On Monday, AYM Syntex Limited shares edged higher to close at ₹214.88, gaining 6.23% for the session. The stock saw significant activity, settling on a total traded volume of 11,191 shares.