Manaksia Coated Metals & Industries Holds Secured Creditors Meeting for Merger Scheme Approval
Manaksia Coated Metals & Industries Limited held a meeting of its secured creditors on Tuesday, June 9, 2026, to consider and potentially approve a proposed Scheme of Merger involving the company and JPA Snacks Private Limited. The meeting was conducted remotely via two-way Video Conferencing (VC) or Other Audio Visual Means (OAVM).The purpose of the meeting, convened under directions from the National Company Law Tribunal, Kolkata Bench, was to present the merger proposal for approval by the creditors. Mrs. Shruti Agarwal, Company Secretary, along with other attendees including Chief Financial Officer Mr. Mahendra Kumar Bang and PCS CS Bidisha Achari (Scrutinizer), welcomed the creditors who participated in the online session.
The company informed the creditors that voting rights were calculated based on the number of shares held by them as of the cut-off date, March 31, 2026. Creditors were provided opportunities to participate both through remote e-voting and during the meeting itself if they had not previously voted electronically.
The core business transaction transacted at the meeting was detailed as follows:
| Item No. | Business Details | Resolution Required |
|---|---|---|
| 1. | To consider and approve the Scheme of Merger between JPA Snacks Private Limited and Manaksia Coated & Metals Industries Limited and their respective Creditors. | Special |
Following the presentation, the Chairman invited speakers who were present via VC/OAVM to raise queries or provide feedback regarding the merger scheme. The meeting concluded with both formal resolutions being read out by the Company Secretary.
The Chairman advised that a consolidated result of the e-voting, along with the Scrutinizer's Report on the resolutions, would be declared within two working days from the conclusion of the meeting. These results will subsequently be made available on the company and NSDL websites and submitted to stock exchanges where Manaksia Coated Metals & Industries Ltd is listed.
MANAKCOAT Stock Price Movement
Today, shares of Manaksia Coated Metals & Industries Limited edged higher to close at ₹105.63, recording a solid gain of 2.28%. The positive movement was supported by strong interest in the stock, which saw a volume of 122,668 shares traded during the session.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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