Kitex Garments Ltd to Hold Shareholder and Creditor Meetings for Demerger Scheme
Kitex Garments Limited is set to hold meetings of its Equity Shareholders and Unsecured Creditors concerning a proposed Scheme of Arrangement. The meeting details were issued following an order dated January 22, 2026, from the National Company Law Tribunal, Kochi Bench.The meetings are being held to consider and potentially approve the Scheme, which involves the demerger of Kitex Childrenswear Limited (the Demerged Company) into Kitex Garments Limited (the Resulting Company). The arrangement is conducted under Sections 230 to 232 of the Companies Act, 2013.
The meetings for stakeholders are scheduled for Friday, July 24, 2026, and will be held through Video Conferencing (VC) or Other Audio Visual Means (OAVM).
Key meeting details are summarized below:
| Meeting Type | Date | Time (IST) |
|---|---|---|
| Equity Shareholders | Friday, July 24, 2026 | 11:00 A.M |
| Unsecured Creditors | Friday, July 24, 2026 | 02:30 P.M |
Voting and Stakeholder Rights
The company has outlined the voting periods and eligibility criteria for both Equity Shareholders and Unsecured Creditors.For the equity shareholders, eligible to vote is any shareholder whose name is recorded in the Register of Members or in the Register of Beneficial Owners maintained by the Depositories as of the Cut-Off Date, which is July 17, 2026. Voting rights for Equity Shareholders will be determined proportionate to their shareholding in the paid up equity share capital as of that date.
The period designated for remote e-voting for both meetings commences on Monday, July 20, 2026, at 9:00 A.M., and concludes on Thursday, July 23, 2026, at 5:00 P.M.
For Unsecured Creditors, voting rights are available to creditors listed in the company's 'List of Unsecured Creditors' as of the Cut-Off Date, March 31, 2026. The voting power of an Unsecured Creditor will be proportional to the outstanding amount due to Kitex Garments Limited on that specified cut-off date.
KITEX Stock Price Movement
Shares of Kitex Garments Limited are slipping as of 12:20 PM today, shedding 0.78% or ₹1.26 and trading at ₹160.42. The stock has seen significant activity in the current session, with 443,408 shares recorded in the market.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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