NCLT Issues Directive for Swan Defence and Heavy Industries' Amalgamation Scheme
The National Company Law Tribunal (NCLT) has issued a directive regarding the proposed Scheme of arrangement and amalgamation involving Swan Defence and Heavy Industries Limited (SDHIL) and Triumph Offshore Private Limited (TOPL).The order, dated April 13, 2026, pertains to the Scheme aimed at amalgamating the two entities. This proceeding was initiated under sections 230 to 232, read with sections 66 and section 52 of the Companies Act, 2013.
The NCLT directive inter alia outlined several requirements for the companies and their respective stakeholders. Key directives issued by the Tribunal include:
- SDHIL is directed to convene a meeting of its Equity Shareholders on May 25, 2026.
- The requirement to convene a meeting of the Equity Shareholders of TOPL has been dispensed with.
- The requirement to convene meetings for Secured and Unsecured creditors of both SDHIL and TOPL has also been dispensed with.
For reference, the Board of Directors of SDHIL had previously approved the Scheme, pending the requisite regulatory approvals.
The detailed order issued by the NCLT on April 13, 2026, is available for accessing further details.
SWANDEF Stock Price Movement
Shares of Swan Defence and Heavy Industries Limited today slipped by 2.77% to settle at ₹1805.8. The equity traded on a volume of 13,123 shares, closing substantially lower than its previous close of ₹1851.3.Source:
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