NSEGeneral Updates3 Jul 2026 · 3 Jul 2026, 07:45 pm
General Updates
India Glycols Limited · INDIAGLYCO
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India Glycols Limited has informed the Exchange about General Updates on the Scheme of Arrangement amongst India Glycols Limited, Ennature Bio pharma Limited, and IGL Spirits Limited. The Hon'ble National Company Law Tribunal, Allahabad Bench at Prayagraj has reserved the matter for final pronouncement.
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Earnings Impact2/10
Growth Catalyst6/10
Governance Concern3/10
Regulatory Risk4/10
Balance Sheet Risk2/10
Liquidity Impact8/10
Market Sentiment5/10
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India Glycols Limited has informed the Exchange about General Updates on the Scheme of Arrangement.
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INDIAGLYCO_03072026194503_SE_Intimation_NCLT_Order.pdf
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IGL/SE/2026-27/22
3rd July, 2026
The Manager (Listing) The Manager (Listing)
BSE Limited National Stock Exchange of India Limited
1st Floor, New Trading Ring, Exchange Plaza, C-1, Block G,
Rotunda Building, P.J. Towers, Bandra Kurla Complex,
Dalal Street, Mumbai – 400 001 Bandra (East), Mumbai- 400 051
Scrip Code: 500201 Symbol: INDIAGLYCO
Sub: Disclosure under Regulation 30 of Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”)
Dear Sir(s),
In continuation of our earlier intimation dated 21st May, 2026 bearing letter no: IGL/SE/2026-
27/14 in relation to the Scheme of Arrangement amongst India Glycols Limited (“Demerged
Company” / “Company”), Ennature Bio pharma Limited (“Resulting Company 1”), and IGL
Spirits Limited (“Resulting Company 2”) and their respective shareholders (“Scheme”), we
wish to inform that the Hon’ble National Company Law Tribunal, Allahabad Bench at Prayagraj
(“NCLT”) vide their Order dated 2nd July,2026 which was uploaded on 3rd July, 2026 on NCLT
Website, had reserved the matter for final pronouncement.
Copy of the Order is attached for your reference and is also being uploaded on the website of the
Company at: https://www.indiaglycols.com/wp-content/uploads/NCLT_Order_2_7_2026.pdf
Any further information in this connection will be submitted with the Exchanges in due course.
Thanking you,
Yours faithfully,
For India Glycols Limited
Ankur Jain
Head (Legal) & Company Secretary
Encls: A/a
DIVISION BENCH ITEM NO.115
NATIONAL COMPANY LAW TRIBUNAL
ALLAHABAD BENCH
PRAYAGRAJ
CP (CAA) No.07/ALD/2026 IN CA (CAA) No.36/ALD/2025
(Second Motion)
CORAM:
1. SH. PRAVEEN GUPTA,
HON’BLE MEMBER (JUDICIAL)
2. SH. ASHISH VERMA,
HON’BLE MEMBER (TECHNICAL)
Date of Order: 2nd July, 2026
Attendance-Cum-Order Sheet of the Hearing.
NAME OF THE COMPANY INDIA GLYCOLS LIMITED WITH
IGL SPIRITS LIMITED
UNDER SECTION 230/232 OF COMPANIES ACT 2013
COUNSEL APPEARED THROUGH PHYSICAL/ VIRTUAL HEARING:
Sh. Rahul Agarwal, Sr. Adv. : For the Applicant/ Petitioner Companies
Sh. Amit Mahajan, Sr. S.C. : For the Income Tax Department
Sh. Mohd. Akhtar, STA : For the O.L./RoC, Uttarakhand
ORDER
1. This is a Second Motion petition and is a Scheme of Demerger only, whereas
the meetings of the secured creditors of the Petitioner Company No.1 as well
as the meetings with respect to the Resulting Company were dispensed with.
2. Since, it is a Scheme of Demerger, there is no report required from the
Official Liquidator. However, the report on behalf of the RoC cum OL,
Uttarakhand has been filed, where no adverse observations have been
pointed out in the said report.
3. Insofar as the report on behalf of the Income Tax Department is concerned,
the Ld. Counsel representing the Income Tax Department points out that
Rs.27,890/- is outstanding as per the demand raised on 06th May, 2026.
4. The Ld. Counsel representing the Petitioner on the other hand states that the
amount due as a result of the demand notice has already been deposited on
06th July, 2023. However, the Ld. Counsel representing the Income Tax
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Department points out that it could not have been possible for the satisfaction
of the demand paid in 2023, against the demand raised in 2026 only.
5. According to the Ld. Counsel representing the Petitioner, it is only with
respect to the interest amount and since the principle outstanding demand
has been paid, therefore according to them no interest is accrued.
6. He however further submits that as per the undertaking contained in the
petition, he would be bound by any outstanding demand post sanction of the
Scheme particularly the Petitioner Company No.1 which is a demerging
company and remains in existence post approval.
7. Matter heard. Order reserved.
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(Ashish Verma) (Praveen Gupta)
Member (Technical) Member (Judicial)
2nd July, 2026
Avaneesh Kumar Singh
(Stenographer)
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