Corporate Updates and Financial Actions: Companies Announce Mergers, Special Share Windows, and Asset Recovery Proceedings

Corporate Updates and Financial Actions: Companies Announce Mergers, Special Share Windows, and Asset Recovery Proceedings​

Palco Entities Schedule Meetings for Scheme of Amalgamation​

The Ahmedabad Bench of the National Company Law Tribunal directed separate meetings for two companies concerning a proposed Scheme of Amalgamation. The relevant notices state that equity shareholders and unsecured creditors of Palco Metals Limited (the Transferee Company) are scheduled to attend a meeting on Monday, July 27, 2026, at 11:30 am at the company's venue located at 1715, Saiprasad Industrial Park-II, alongside Ramol Police Station, CTM-Ramol Road in Ahmedabad.

Meeting schedules for Palco Metals Limited are as follows:


In addition, the notice for Palco Recycle Industries Limited (the Transferor Company) indicates a meeting for its unsecured creditors scheduled on Tuesday, July 28, 2026 at 12:30 pm. A separate meeting for the secured creditors of Palco Recycle Industries Limited is set for Tuesday, July 28, 2026 at 1:30 pm.

The venues are as follows:

• Palco Metals Limited: 1715, Saiprasad Industrial Park-II, CTM-Ramol Road, Ramol, Ahmedabad, Gujarat 382449.
• Palco Recycle Industries Limited: RS No. 72, 73, 75, Opp. Super British Alloys, Nr. Jalaram Mandir, Ankhol, TA-Kadi, Dist-Mahesana, Gujarat-382715.

Banks Initiate Asset Recovery Proceedings and Announce Auction Sales​

Indusind Bank Limited has issued a sale notice for immovable assets under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, to be conducted on July 15, 2026. The recovery is sought from MEGHA PARCEL SERVICE and guarantors/mortgagors Gaurishankar H Mantri, Mrs. Munni Devi Gaurishankar Mantri, and Megha Industries.

The auction details for the properties are presented below:


Hinduja Housing Finance Limited (HHFL) has commenced recovery proceedings against certain borrowers under the SARFAESI Act. The properties are sought for recovery of outstanding dues in amounts up to Rs. 46,871,418/- and Rs. 5,99,076/-, among others.

Muthoot Homefin (India) Limited has taken possession of property from the borrower(s)/co-borrower(s)/guarantor(s). The properties held as collateral in this notice are described in the provided table.

Special Window for Physical Securities Transfer and Dematerialisation​

Two companies have opened special windows, providing shareholders an opportunity to transfer and dematerialize physical securities that were previously sold or purchased prior to certain dates.

A special window has been open by Olympic Cards Limited from February 05, 2026, to February 04, 2027, for the transfer and dematerialisation of physical securities that were sold/purchased prior to April 1, 2019.

Similarly, a special window has been opened by Munjal Auto Industries Limited from February 5, 2026, to February 4, 2027, for the transfer and dematerialisation of physical securities sold/purchased prior to April 1, 2019.

Real Estate Transactions and Property Information​

A public notice issued by Eagle Sizers concerns three properties in Akoli, Sub-District Dhamidhar & District VavTharad, where original sale deeds (registration numbers 1130 dated 18/05/2008; 500 dated 15/10/2018; and 406 dated 16/10/2026), along with associated registration receipts, were misplaced and are not traceable. The owner has confirmed that the properties remain in their physical possession.

Mirae Asset Mutual Fund Announces Investor Awareness Programs​

Mirae Asset Mutual Fund is undertaking various events to educate investors about the financial market and mutual funds. An upcoming schedule of these programs includes an event on June 30, 2026, at Hotel Tulsi, Near District Court, Sidhour Char Rasta, Chamunda Society, Patan, Gujarat - 384 265, starting at 6:00 PM.

Summary of Bank Foreclosure and NPA Proceedings (Abridged)​

Hinduja Housing Finance Limited (HHFL) is proceeding against secured assets due to non-performing asset status. The properties detailed include a Flat No. 103 in 'Shree Vila Residency Bardol' for which the total amount outstanding was Rs. 46,871,418/-. Another property listed is Flat No. 205 in 'Shradha' on Plot No. 4 and 5 of Govindj, with a super built up area of around 32.70 Sq. M, for which the unsecured amount was Rs. 868 Sq. Mt of 'ai Shradha'.

Muthoot Homefin (India) Limited details several properties where they have taken possession:

• One property in Surat involving Sri Kumar Mohanlal Soni/ Vinakumari Sujitkumari Soni, with a demand notice date and total outstanding dues of Rs. 3,06,959/- dated March 30, 2026.
• Another secured asset is Flat No. 103 in 'Shree Vila Residency Bardol', which includes 548.00 Sq. Mtrs Super Built Up Area, with an outstanding amount of Rs. 9,94,425/-.

Stock Price Movement​

Palco Metals Ltd settled at ₹133.55 on Thursday, slipping 2.84% in post-market trading. The shares traded through an intraday range that spanned from a low of ₹132.45 up to a high of ₹139.70.