Marathon Nextgen Realty Receives BSE’s ‘No Adverse Objection’ for Composite Scheme of Amalgamation and Arrangement
Marathon Nextgen Realty Limited announced it has received an observation letter dated March 25, 2026, from the BSE Limited with “no adverse objection” regarding the Composite Scheme of Amalgamation and Arrangement.The scheme involves Matrix Water Management Private Limited, Sanvo Resorts Private Limited, Marathon Realty Private Limited, Matrix Enclaves Projects Developments Private Limited, Matrix Land Hub Private Limited, Marathon Nextgen Realty Limited, and Marathon Energy Private Limited.
The scheme remains subject to approval from shareholders and creditors of the respective companies and other statutory and regulatory approvals. The observation letter from BSE Limited will also be available on the company’s website.
The BSE’s observations included a requirement to disclose details of ongoing adjudications, recovery proceedings, and prosecution actions against the company, its promoters, and directors. The company is also advised to comply with SEBI circulars and to provide a detailed valuation report and other information to shareholders as part of the explanatory statement. The observation letter is valid for six months.
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