PPAP Automotive Announces Unsecured Creditors Meeting for Amalgamation Scheme
PPAP Automotive Limited will hold a meeting of its unsecured creditors on September 30, 2026, to vote on the amalgamation scheme with Avinya Batteries Limited. The meeting will be conducted via video conference, with remote e-voting available from September 26-29, 2026. Creditors as of March 31, 2026, are eligible to vote.
The amalgamation of two companies can have a significant impact on the combined entity's future operations, market position, and financial performance. Therefore, this event is considered to have a medium impact.
The announcement is a procedural step in a corporate amalgamation process. It informs about a meeting and voting procedures, which is neutral in itself without any indication of the outcome or its direct financial implications at this stage.
PPAP Automotive Limited has announced a meeting of its unsecured creditors, scheduled for September 30, 2026, at 3:30 PM IST. This meeting, to be conducted via Video Conferencing (VC/OAVM), is convened pursuant to an order dated July 29, 2026, from the National Company Law Tribunal (NCLT), New Delhi Bench.
The purpose of the meeting is to consider and approve, with or without modifications, a Scheme of Amalgamation of Avinya Batteries Limited (Transferor Company) with PPAP Automotive Limited (Transferee Company) and their respective shareholders.
The cut-off date for determining the entitlement of unsecured creditors to vote and attend the meeting is March 31, 2026. Remote e-voting will be available from September 26, 2026 (9:00 am IST) to September 29, 2026 (5:00 pm IST). The notice of the meeting, along with the Explanatory Statement and the Scheme of Amalgamation, has been dispatched to the unsecured creditors as of the cut-off date and is also available on the company's website.
A plain-language summary of a public exchange filing by PPAP Automotive Limited. Read the original for the full detail.