Update on merger of Avinya Batteries Limited, wholly owned subsidiary with PPAP Automotive Limited

PPAP Automotive Limited GSTIN: 07AAACP5144P3Z1 & 07AAACP5144P2Z2 31st July, 2026 The Listing Department The Listing Department BSE Limited The National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Bandra Kurla Complex, Mumbai – 400001 Bandra (E), Mumbai – 400051 Symbol: 532934 Symbol: PPAP Subject: Update on Merger of Avinya Batteries Limited (Wholly Owned Subsidiary ‘WOS’) with PPAP Automotive Limited (“the Company”) Dear Sir, Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) read with Para A of Part A of Schedule III thereof, and in reference to our intimation dated 11th May, 2026, we would like to inform that the Joint Application filed before the National Company Law Tribunal (“NCLT”/ “Tribunal”), New Delhi Bench, wrt merger of Avinya Batteries Limited with PPAP Automotive Limited, the Hon’ble Tribunal vide its Order dated 29th July, 2026 (uploaded on the NCLT website today), has inter alia: • Dispensed with the requirement of convening the meeting of the Shareholders of Avinya Batteries Limited. • Directed to convene the meetings of the Secured Creditors and Unsecured Creditors of Avinya Batteries Limited. • Directed to convene the meetings of the Shareholders, Secured Creditors and Unsecured Creditors of the Company. The Company will take necessary actions for convening the Meeting of its Shareholders, Secured Creditors and Unsecured Creditors as per the Order of the Hon’ble Tribunal and update the Stock Exchanges in due course. A copy of the Order is enclosed herewith. We request you to kindly take the aforesaid intimation on record. Thanking you, Yours faithfully, For PPAP Automotive Limited Pankhuri Agarwal Company Secretary & Compliance Officer Registered office: 54, Okhla Industrial Estate, Phase III, New Delhi-110020 +91-011-62560000 info@ppapco.com www.ppapco.in CIN: L74899DL1995PLC073281 IN THE NATIONAL COMPANY LAW TRIBUNAL NEW DELHI BENCH (COURT- VI) C.A.(CAA)-41/230-232/ND/2026 An Application under section 230 read with section 232 of the Companies Act, 2013, read with the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016, and other applicable provisions of law. IN THE MATTER OF THE SCHEME OF AMALGAMATION: BETWEEN 1. AVINYA BATTERIES LIMITED Registered Office at 54, Okhla Industrial Estate, Phase III, New Delhi 110020 ...Applicant Company -1/Transferor Company - 1 2. PPAP Automotive Limited, Registered Office at 54, Okhla Industrial Estate, Phase III, New Delhi, 110020, ...Applicant Company -2/Transferee Company-2 Order Pronounced on: 29.07.2026 CORAM JUSTICE JYOTSNA SHARMA MS. ANU JAGMOHAN SINGH HON'BLE MEMBER (JUDICIAL) HON'BLE MEMBER (TECHNICAL) PRESENT For the Petitioner : Mr. Dhritiman Bhattacharyya & Deeti Ojha, Advs C.A.(CAA)/41/230-232/ND/2026 Order Pronounced On: 29.07.2026 Page 1 of 10 ORDER 1. This is a joint application filed by the Applicant companies herein, Avinya Batteries Limited, ("Transferor Company") and PPAP Automotive Limited, ("Transferee Company"), jointly referred to as the “Applicant Companies”) under Section 230-232 of Companies Act, 2013, and other applicable provisions of the Companies Act, 2013 read with Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. 2. The Learned Counsel for the Applicant Companies submits that the present Scheme is a Scheme of Amalgamation between “Applicant Company No. 1 into Applicant Company No.2” (For brevity ‘Scheme’) under the provisions of Sections 230 to 232 of the Companies Act, 2013. 3. That Avinya Batteries Limited (hereinafter referred to as the "Transferor Company No. 1") incorporated on 01.01.2015 under the provisions of Companies Act, 2013 is an unlisted Public limited Company. The Registered Office of the Transferor Company /Applicant No. 1 is at: 54, Okhla Industrial Estate, Phase III, New Delhi 110020. The main object of the Transferor Company is engagement in manufacturing of Li-Ion based Battery pack solution for the 2-wheeler and 3-wheeler industry, energy storage systems, and industrial power 10 solutions. 4. That PPAP Automotive Limited (hereinafter referred to as the "Transferee Company) incorporated under the provisions of Companies Act, 1956 as a listed Public Limited Company vide Certificate of Incorporation dated 18.10.1995. The Registered Office of the Applicant/Transferee Company Registered office at: 54, Okhla Industrial Estate, Phase III, New Delhi, 110020, India. The main object of the Transferee Company manufacturing of sealing systems, interior and exterior injection moulded products for the automotive industries. C.A.(CAA)/41/230-232/ND/2026 Order Pronounced On: 29.07.2026 Page 2 of 10 5. The Applicant Company No. 1 and Applicant Company No. 2 have filed their respective Memorandum and Articles of Association inter alia delineating their object clauses, and also filed their latest Audited Financial Statements for the Financial Year “FY” ended March 31, 2026. 6. The Applicant company No. 1 and Applicant Company No.2, vide their meeting of the Board of Directors held on 05.05.2026 and 11.05.2026 have respectively approved the proposed Scheme of Amalgamation. Copies of said resolutions passed in the said board meetings have been placed on record. 7. Applicant Companies submitted that the Scheme is not prejudicial to the interests of the shareholders and creditors of the Petitioner Companies. It is further submitted that the proposed Scheme is beneficial to the Petitioner Companies and their respective Shareholders and Creditors. 8. The Applicant Company submitted that Transferor Company has 7 (seven) equity shareholders and 100% of them have given their consent to the Scheme by way of affidavits. The list of equity shareholders of Transferor Company, along with consent affidavits, is attached with this Application. 9. The Transferor Company has 4 secured Creditors. Certificate from Chartered Accountants certifying list of creditors is annexed. None of the secured creditors gave consent to the scheme of Amalgamation. It is submitted by the Transferor company that since no consent Affidavits have been obtained, the Transferor Company is proposing to convene a meeting of its Secured Creditors. 10. Further, it has been averred that the Transferor Company has 66 (Sixty-six) unsecured creditors. Certificate from Chartered Accountants certifying list of creditors is annexed. None of the unsecured creditors gave consent to the scheme of Amalgamation. It is submitted by the Transferor company that since no consent Affidavits have been obtained, the Transferor Company is proposing to convene a meeting of its Unsecured Creditors. C.A.(CAA)/41/230-232/ND/2026 Order Pronounced On: 29.07.2026 Page 3 of 10 11. The applicant Companies submitted that the Transferee Company has 15675 equity shareholders. Certificate from Chartered Accountants certifying list of creditors is annexed. None of the Equity Shareholders gave consent to the scheme of Amalgamation. It is submitted by the Transferee company that since no consent Affidavits have been obtained, the Transferee Company is proposing to convene a meeting of its Equity Shareholders. 12. The Transferee Company has 9 secured Creditors. Certificate from Chartered Accountants certifying list of creditors is annexed. None of the secured creditors gave consent to the scheme of Amalgamation. It is submitted by the Transferee company that since no consent Affidavits have been obtained, the Transferee Company is proposing to convene a meeting of its Secured Creditors. 13. Further, it has been averred that the Transferee Company has 653 unsecured creditors. Certificate from Chartered Accountants certifying list of creditors is annexed. None of the unsecured creditors gave consent to the scheme of Amalgamation. It is submitted by the Transferee Company that since no consent Affidavits have been obtained, the Transferee Company is proposing to convene a meeting of [Showing first 8,000 characters — download PDF for full document]