NCLT Directs Notices for Concord Enviro Systems' Scheme of Arrangement
Concord Enviro Systems Ltd has received further directions from the National Company Law Tribunal (NCLT), Mumbai Bench, regarding its ongoing Scheme of Arrangement. The NCLT order, dated June 11, 2026, sets forth mandatory procedures related to the scheme before it can proceed completely.The proceedings under Section 230 to 232 of the Companies Act, 2013, concern the proposed Scheme of Arrangement between Concord Enviro Systems and its shareholders. This development follows a previous NCLT Order on March 11, 2026, which led to a shareholder meeting where members cast votes in favour of the scheme.
The latest directions issued by the Hon'ble NCLT mandate the issuance of specific notices. These include informing statutory and regulatory authorities specified under Section 230(5) of the Companies Act, 2013, and directing public announcements in newspapers. The company is required to serve notice through various modes, including service to the Central Government, Regional Directors, Income Tax Authorities, and relevant sectoral regulators.
The NCLT has also established a definitive timeline for the scheme’s progression. All concerned authorities are directed to submit any representations regarding the proposal within 30 days from the date of receiving the notice. The matter has been scheduled for further hearing on July 23, 2026.
Key details of the NCLT directive and subsequent steps include:
| Aspect | Detail |
|---|---|
| Governing Tribunal | National Company Law Tribunal (NCLT), Mumbai Bench |
| Order Date | June 11, 2026 |
| Objective | Approval of the Scheme of Arrangement |
| Required Action by Authorities | Submit representations within 30 days of receiving notice |
| Next Hearing Date | July 23, 2026 |
The NCLT's order also stipulated that notices detailing the scheme must be published in newspapers. Specifically, the company is directed to publish the notice in two prominent daily newspapers: 'Navshakti' (in Marathi language) and 'Business Standards' (in English language).
CEWATER Stock Price Movement
Shares of Concord Enviro Systems Limited rallied on Friday, settling at ₹350.55 after posting a 2.55% gain. The stock movement was supported by the market activity, with a total traded volume recording 355,356 shares 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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