Manaksia Coated Metals' Unsecured Creditors Approve Scheme of Amalgamation with JPA Snacks Pvt Ltd
Manaksia Coated Metals & Industries Limited announced that its unsecured creditors approved the Scheme of Amalgamation involving JPA Snacks Private Limited. The resolution was ratified by the creditors, meeting the statutory majority required under Section 230(6) of the Companies Act, 2013.The meeting of the Unsecured Creditors for Manaksia Coated Metals & Industries Limited was held on June 9, 2026, through video conferencing (VC)/Other Audio Visual Means (OAVM). The meeting involved key personnel from the company, including Ms. Shruti Agarwal, Company Secretary, and Mr. Mahendra Kumar Bang, Chief Financial Officer, alongside attendees from National Securities Depository Limited.
The Scheme of Amalgamation, which involves JPA Snacks Private Limited as the Transferor Company and Manaksia Coated Metals & Industries Limited as the Transferee Company, was put before the creditors for approval.
Creditor Voting Results Summary
The Chairperson, Parikshit Poddar, reported on the outcome based on reports from the Scrutinizer, Ms. Bidisha Achari, Practicing Company Secretary, and consolidated voting results collected by National Securities Depository Limited (NSDL).The following data reflects how the unsecured creditors voted on the proposed amalgamation:
Votes in Favour:
| Mode of Voting | No. of Unsecured Creditors who voted | % of total number of Unsecured Creditors who voted | Value of votes cast (in terms of amount due) | % of total value of votes cast |
|---|---|---|---|---|
| Remote e-voting | 15 | 88.24 | 1,44,32,37,430 | 97.56 |
| E-voting at the meeting | 1 | 5.88 | 2,80,800 | 0.01 |
| TOTAL | 16 | 94.12 | 1,44,35,18,230 | 97.57 |
Votes Against:
| Mode of Voting | No. of Unsecured Creditors who voted | % of total number of Unsecured Creditors who voted | Value of votes cast (in terms of amount due) | % of total value of votes cast |
|---|---|---|---|---|
| Remote e-voting | 0 | 0 | 0 | 0 |
| E-voting at the meeting | 0 | 0 | 0 | 0 |
| TOTAL | 0 | 0 | 0 | 0 |
Invalid Votes:
| Mode of Voting | No. of Unsecured Creditors who voted | % of total number of Unsecured Creditors who voted | Value of votes cast (in terms of amount due) | % of total value of votes cast |
|---|---|---|---|---|
| Remote e-voting | 1 | 5.88 | 3,58,93,502 | 2.43 |
| E-voting at the meeting | 0 | 0 | 0 | 0 |
| TOTAL | 1 | 5.88 | 3,58,93,502 | 2.43 |
Based on these results and the Scrutinizer's Report, the Chairperson concluded that the resolution for the Scheme of Amalgamation had been approved by the Unsecured Creditors with the required majority in number and representing threefourths in value.
MANAKCOAT Stock Price Movement
Shares of Manaksia Coated Metals & Industries Limited shed 1.44% on Thursday, finishing trading at ₹104.63. The stock saw a volume of 288,501 shares traded throughout 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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