Executive Summary
The June 24, 2026, filings reveal a significant cluster of corporate restructuring and insolvency activity, with 7 of 22 filings directly related to NCLT proceedings, CIRP meetings, or scheme approvals. Key themes include the advancement of several high-stakes resolution processes (Reliance Communications, Shirpur Gold Refinery, Reliance Home Finance) and major demerger/scheme milestones for BASF India and Larsen & Toubro.
A critical development is the NCLAT stay on Vikram Solar's insolvency proceedings, providing temporary relief for a fundamentally strong company with zero long-term debt and robust FY26 financials. The period-over-period comparisons are limited in this stream, but the operational data from Vikram Solar (revenue of INR 4,802 Cr, PAT of INR 470 Cr) and BASF's Agricultural Solutions business (sales of INR 1,944 Cr, PBT of INR 254 Cr) provide key valuation benchmarks for the restructuring events. Insider activity is absent, but capital allocation signals are present in ICICI Bank's move to shore up its stake in ICICI Prudential Life Insurance, indicating strategic intent. The most actionable intelligence revolves around the upcoming catalyst calendar, with multiple CoC meetings and shareholder votes scheduled in the next 30-45 days.
Materiality, sentiment, and priority are scored by Gunpowder’s analysis pipeline. How we score filings →
Filing types in this digest: Company update · Insolvency
Tracking the trend? Catch up on the prior India NCLT Insolvency Resolution Filings digest from June 16, 2026.
Investment Signals (10)
- Vikram Solar ↓ (BULLISH)▲
NCLAT stay on insolvency provides temporary reprieve; company reported zero long-term debt and a debt-to-equity ratio of 0.03, with FY26 revenue of INR 4,802 Cr and PAT of INR 470 Cr. This suggests a strong underlying business facing a creditor dispute, not a distress situation.
- BASF India ↓ (BULLISH)▲
Shareholders approved the demerger of the Agricultural Solutions business (FY26 sales: INR 1,944 Cr, PBT: INR 254 Cr) with 99.9987% votes in favor. The 1:1 share entitlement and expected completion in FY26-27 creates a pure-play agri-science listed entity, unlocking potential value.
- Larsen & Toubro ↓ (BULLISH)▲
NCLT has directed a shareholder meeting for the scheme of arrangement with L&T Realty Properties, moving the restructuring forward. This could unlock value from its real estate arm, though no financial details are disclosed yet.
- ICICI Bank ↓ (BULLISH)▲
Received RBI approval to purchase up to an additional 2% in ICICI Prudential Life Insurance to maintain majority control. This signals management's confidence in the subsidiary's long-term value and a strategic move to consolidate ownership.
- Reliance Communications ↓ (BEARISH)▲
The 73rd CoC meeting scheduled for June 25, 2026, indicates the resolution process is still active after 7 years under CIRP. The sheer number of meetings suggests a complex or contested resolution, which could lead to a significant haircut for creditors.
- Shirpur Gold Refinery ↓ (BEARISH)▲
The 30th CoC meeting scheduled for June 25, 2026, after a prolonged CIRP, signals a deeply distressed asset with a high likelihood of liquidation or significant equity dilution for existing shareholders.
- Reliance Home Finance ↓ (BEARISH)▲
The 11th CoC meeting was held on June 24, 2026, after being rescheduled from June 15. The rescheduling and ongoing CIRP suggest a drawn-out resolution process for this stressed NBFC, with uncertain recovery for stakeholders.
- Refex Industries ↓ (BULLISH)▲
NCLT has ordered meetings of shareholders and creditors for August 5, 2026, to approve a Composite Scheme of Amalgamation. This is a positive step towards corporate simplification and potential value unlocking, but execution risk remains until all approvals are secured.
- Infosys ↓ (BULLISH)▲
The 45th AGM saw all six resolutions passed, including the reclassification of certain promoter group members to public. This move could improve corporate governance perception and increase public float, potentially attracting more institutional investors.
- Kansai Nerolac Paints ↓ (NEUTRAL)▲
The NCLT hearing for the amalgamation of Nerofix Private Limited is set for July 29, 2026. This is a small-scale related-party merger, but it indicates ongoing corporate restructuring within the group.
Risk Flags (8)
- Vikram Solar/Insolvency Risk↓ [HIGH RISK]▼
Despite strong financials (zero debt, high profitability), the company is under CIRP. The NCLAT stay is temporary; if the appeal fails, the company could face a prolonged resolution process, severely impacting shareholder value.
- Reliance Communications/Prolonged CIRP↓ [HIGH RISK]▼
The company has been under CIRP since June 2019 (over 7 years). The 73rd CoC meeting indicates a highly complex or contested resolution, with a high probability of significant value destruction for equity holders.
- Shirpur Gold Refinery/Advanced Distress↓ [HIGH RISK]▼
With the 30th CoC meeting, this is one of the most prolonged CIRP cases. The lack of any resolution plan after so many meetings signals a potential liquidation scenario, making equity essentially worthless.
- Reliance Home Finance/NBFC Distress↓ [HIGH RISK]▼
The 11th CoC meeting and the rescheduling from June 15 to June 24 suggest ongoing difficulties in reaching a consensus among creditors, typical of stressed NBFCs with complex liability structures.
- ONGC/Volume Surge Clarification [LOW RISK]▼
The company issued a clarification for a significant volume surge, stating it is 'purely market driven.' While not a risk in itself, unexplained volume spikes can sometimes precede adverse news or regulatory scrutiny.
- BASF India/Demerger Execution Risk↓ [MEDIUM RISK]▼
While the demerger was approved, it is subject to final NCLT approval and other conditions. Any delays or adverse orders could push back the timeline (currently FY26-27) and impact the expected value unlock.
- Larsen & Toubro/Scheme of Arrangement Uncertainty↓ [MEDIUM RISK]▼
The NCLT order is a procedural step. The final terms of the scheme with L&T Realty Properties are not disclosed, and shareholder approval is not guaranteed. Any unfavorable terms could be value-dilutive.
- Aster DM Healthcare/NCLT Scheme Approval↓ [LOW RISK]▼
The NCLT has approved the amalgamation with Quality Care India Limited, but the effective date is pending ROC filing. Any regulatory hurdles in the final steps could delay or derail the merger.
Opportunities (7)
- BASF India/Demerger Catalyst↓ (OPPORTUNITY)◆
The demerger of the high-growth Agricultural Solutions business (FY26 PBT margin of ~13%) into a separate listed entity (BASIL) with a 1:1 share entitlement is a clear value-unlocking event. Current BASF India shareholders will get shares in the new entity, creating a pure-play agri-science investment.
- Vikram Solar/Insolvency Stay Arbitrage↓ (OPPORTUNITY)◆
The NCLAT stay provides a window where the market may be undervaluing the company's strong operational business (INR 4,802 Cr revenue, zero debt) due to the insolvency overhang. If the appeal succeeds, a significant re-rating is possible.
- ICICI Bank/Subsidiary Stake Consolidation↓ (OPPORTUNITY)◆
The RBI approval to increase stake in ICICI Prudential Life Insurance signals management's bullish view on the life insurance subsidiary. This could lead to better capital allocation and potential for higher consolidated earnings.
- Refex Industries/Composite Scheme Value Unlock↓ (OPPORTUNITY)◆
The NCLT-ordered meetings for the amalgamation of Refex Green Mobility and Refex Mobility into Refex Industries could lead to operational synergies and a simpler corporate structure, potentially unlocking value for shareholders.
- Infosys/Governance Improvement↓ (OPPORTUNITY)◆
The reclassification of promoter group members to the public category, approved at the AGM, improves corporate governance and increases the public float. This could lead to higher index weights and increased institutional demand.
- Reliance Industries/Karkinos Healthcare Scalability↓ (OPPORTUNITY)◆
The step-down subsidiary's milestone of screening 100,000 women for HPV DNA, with a target of 1 million and then 100 million, represents a massive scalable healthcare opportunity in preventive oncology, leveraging RIL's execution capabilities.
- Larsen & Toubro/ESG Rating Upgrade↓ (OPPORTUNITY)◆
The CRISIL ESG score upgrade from 62 to 67 ('Strong' category) is a positive signal for ESG-focused investors. While not directly financial, it can lower the cost of capital and attract a broader investor base.
Sector Themes (5)
- Prolonged CIRP Processes◆
Three filings (Reliance Communications with 73 meetings, Shirpur Gold Refinery with 30 meetings, Reliance Home Finance with 11 meetings) highlight the glacial pace of some IBC resolutions. This creates a 'zombie' corporate segment where equity value is destroyed over years, and creditors face massive haircuts. Investors should avoid equity in companies under CIRP for extended periods.
- Corporate Restructuring via Demergers◆
BASF India and L&T are pursuing demergers/schemes of arrangement to unlock value. This trend suggests that large, diversified Indian corporates are using the NCLT framework for proactive corporate simplification, creating pure-play investment opportunities for shareholders.
- NCLT as a Restructuring Tool, Not Just Insolvency◆
Multiple filings (BASF India, Kansai Nerolac, Refex Industries, L&T) use NCLT for amalgamations and demergers, not just for insolvency. This underscores the tribunal's role as a facilitator for corporate reorganization, offering a legal pathway for value-creating M&A.
- Healthcare as a Growth Vector for Conglomerates◆
Reliance Industries' Karkinos Healthcare and Infosys's collaboration with Sentara highlight a cross-sector push into healthcare technology and services. This theme is driven by digital transformation and large-scale public health needs, offering long-term growth optionality for these conglomerates.
- Shareholder Democracy and Governance◆
The Infosys AGM results show high shareholder approval but with minor dissent (1-2% against on key resolutions). The reclassification of promoter shares to public is a positive governance signal, a trend that may be followed by other companies with concentrated promoter holdings.
Watch List (9)
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CoC meeting on June 25, 2026. Watch for any announcement of a resolution plan or extension of the CIRP timeline. A resolution plan could provide a recovery path for creditors, while another extension signals continued distress.
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CoC meeting on June 25, 2026. Given this is the 30th meeting, any indication of a final resolution plan or a move towards liquidation is critical. The outcome will set a precedent for other prolonged CIRP cases.
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Watch for the final NCLT order sanctioning the demerger and the subsequent effective date. The timeline for listing of BASF Agricultural Solutions India Limited (BASIL) shares will be a key catalyst.
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Monitor the next NCLAT hearing date. The outcome of the appeal against the CIRP admission is the single most important catalyst. A favorable ruling could lead to a sharp re-rating.
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Shareholder meeting for the L&T Realty Properties scheme must be convened within 60 days of June 12, 2026 (by August 11, 2026). Watch for the notice of meeting and the scheme document for financial details.
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Shareholder and creditor meetings are scheduled for August 5, 2026. The outcome of these votes and subsequent NCLT approval will determine the timeline for the composite scheme.
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NCLT hearing for the Nerofix Private Limited amalgamation is on July 29, 2026. A favorable order will complete the merger.
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Watch for the actual open market purchase of ICICI Prudential Life Insurance shares. The timing and price of the acquisition will signal the bank's view on valuation.
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Monitor for any outcome from the 11th CoC meeting held on June 24, 2026. Any news on a resolution plan or a move to liquidation is critical for stakeholders.
Filing Analyses
(22)
24-06-2026
Larsen & Toubro Limited announced that CRISIL ESG Ratings & Analytics Limited has revised its ESG score from 'CRISIL ESG 62' to 'CRISIL ESG 67' under the 'Strong' category, effective June 23, 2026. This upgrade reflects an improvement in the company's environmental, social, and governance performance.
- · The ESG rating revision was effective June 23, 2026.
- · The rating is published by CRISIL under the 'Strong' category.
- · The disclosure was made under Regulation 30 of SEBI LODR.
24-06-2026
The filing is a clarification sought by BSE from Oil and Natural Gas Corporation Ltd (ONGC) regarding a corporate action. However, the filing does not disclose any specific details about the nature of the corporate action (dividend, bonus, buyback, etc.), its quantum, record date, or any financial metrics. Without this information, no substantive analysis of capital allocation, financial health, or shareholder value creation can be performed.
- · The filing is a clarification request from BSE to ONGC, not a disclosure of any corporate action details.
- · No specific corporate action (dividend, bonus, buyback, rights, split) is mentioned in the filing.
- · No financial data, shareholding changes, or promoter activity is disclosed.
24-06-2026
ONGC issued a clarification to the exchanges regarding a significant increase in its trading volume across BSE and NSE. The company reaffirmed compliance with SEBI (LODR) Regulations, 2015 and stated that the surge in volume is purely market driven.
- · The clarification was sent in response to an email from BSE on the same date (June 24, 2026) regarding significant volume movement.
- · The company reaffirmed compliance with SEBI (LODR) Regulations, 2015.
- · The surge in volume is described as purely market driven with no company-specific reason provided.
24-06-2026
Reliance Communications Limited has informed the stock exchanges that the 73rd meeting of its Committee of Creditors (CoC) is scheduled for June 25, 2026, as part of the ongoing corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. The company has been under the management of Resolution Professional Mr. Anish Niranjan Nanavaty since June 28, 2019, following an order by the National Company Law Tribunal, Mumbai Bench. No financial figures or performance metrics are disclosed in this filing.
- · The company has been under corporate insolvency resolution process since June 28, 2019.
- · The powers of the board of directors are vested in the Resolution Professional, Mr. Anish Niranjan Nanavaty.
- · The meeting is scheduled for June 25, 2026, one day after the filing date.
24-06-2026
Aster DM Healthcare Limited has received the certified copy of the National Company Law Tribunal (NCLT) order approving the Scheme of Amalgamation with Quality Care India Limited (QCIL), as of June 23, 2026. The scheme will become effective upon filing with the Registrar of Companies and satisfaction of other conditions, after which QCIL will be dissolved without winding up. The company will inform stock exchanges of the effective date in due course.
24-06-2026
Kansai Nerolac Paints Limited has issued a newspaper notice regarding the hearing of a petition for the amalgamation of Nerofix Private Limited with the company, scheduled before the Hon'ble National Company Law Tribunal, Mumbai Bench on July 29, 2026. The filing was made under Regulation 30 of SEBI LODR Regulations, 2015, and includes no financial performance data.
- · The hearing of the petition is set for 29th July 2026 before the NCLT Mumbai Bench.
- · The notice was published in Free Press Journal (English) and Navshakti (Marathi) on 24th June 2026.
- · The filing includes no financial data or operational metrics.
24-06-2026
Infosys announced a strategic collaboration with Sentara, a not-for-profit healthcare organization, to scale enterprise AI adoption in healthcare services using Infosys Topaz Fabric. The partnership aims to improve efficiency across IT, hospital operations, and clinical support, with a focus on responsible AI design and measurable outcomes. No financial terms or revenue guidance were disclosed, and the press release contains no period-over-period financial comparisons.
- · Sentara is one of the largest health systems in the U.S. Mid-Atlantic and Southeast, among the top 20 largest not-for-profit integrated health systems in the country.
- · Sentara was named a Health Quality Innovator of the Year (2024) and recognized by Forbes as 'America’s Best-In-State Employer' (2024).
- · Infosys is recognized as the fastest growing IT services brand globally.
- · The collaboration emphasizes responsible AI design, enterprise guardrails, and operational readiness to move AI from experimentation to production.
24-06-2026
Jio Financial Services Limited disclosed contact details of Key Managerial Personnel authorized under SEBI LODR Regulations for determining materiality and making disclosures. The authorized personnel are Shri Hitesh Sethia (MD & CEO), Ms. Annapoorna Venkataramanan (Group CFO), and Ms. Mohana V (Group Company Secretary & Compliance Officer).
24-06-2026
Shirpur Gold Refinery Ltd. informed the stock exchanges about the 30th Committee of Creditors (COC) meeting scheduled for June 25, 2026, at 4:00 PM via video conferencing, as part of the Corporate Insolvency Resolution Process (CIRP). The company is under insolvency proceedings, and the meeting is being held to discuss resolution-related matters. No financial figures or performance data were disclosed in this filing.
- · The 30th COC meeting is scheduled for June 25, 2026, at 04:00 p.m. via video conferencing.
- · The company is under Corporate Insolvency Resolution Process (CIRP).
- · The resolution professional is Ashish Vyas, registered with IBBI (Regn. No. IBBI/IPA-001/IP-P-01520/2018-2019/12267).
- · The filing is made under Regulation 30 and Schedule III of SEBI (LODR) Regulations, 2015.
24-06-2026
Infosys Limited held its 45th Annual General Meeting on June 23, 2026, via video conferencing, where all six resolutions were passed with requisite majorities. Key resolutions included the adoption of financial statements, declaration of dividend, reappointment of Nandan M. Nilekani as a director, amendments to the employee stock ownership plan, and reclassification of certain promoter group members to public category. While all resolutions received overwhelming support from shareholders, Resolution 3 (Nilekani's reappointment) saw 1.07% votes against, and Resolutions 4 and 5 (stock plan amendments) each had about 1.84% votes against, indicating minor dissent.
- · Record date for voting was June 16, 2026, with 3,010,238 shareholders on record.
- · Only 1 promoter and 325 public shareholders attended the meeting via video conferencing.
- · Resolution 6 (reclassification of promoter group to public) had 88.94% of promoter votes polled in favour, with the remaining 11.06% abstaining as per SEBI regulations.
- · The Integrated Annual Report 2025-26, ESG report 2025-26, and Infosys Foundation report 2025-26 are available on the company's website.
- · The webcast archive of the 45th AGM is available on the company's website.
24-06-2026
BASF India Limited held a meeting of equity shareholders on June 24, 2026, via video conferencing, to consider and approve a Scheme of Arrangement between BASF India Limited and BASF Agricultural Solutions India Limited and their respective shareholders. The resolution was approved by the shareholders with the requisite majority. The filing is a regulatory disclosure under SEBI Listing Regulations, not an insolvency proceeding.
- · The meeting was convened pursuant to NCLT orders dated March 20, 2026 and April 8, 2026.
- · The meeting was held at 3:30 p.m. IST on June 24, 2026 via video conferencing/other audio visual means.
- · The notice for the meeting was dated May 21, 2026.
- · The resolution was approved by equity shareholders with requisite majority.
- · The filing is made under Regulation 30 of SEBI Listing Regulations.
24-06-2026
Larsen & Toubro Limited has received an order from the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench, dated June 12, 2026 (read with order dated June 16, 2026), directing the company to convene a shareholder meeting within 60 days to seek approval for a proposed Scheme of Arrangement with L&T Realty Properties Limited. The filing updates the stock exchanges on this regulatory step, following an earlier communication on March 19, 2026. No financial figures or performance metrics are disclosed in this filing.
- · The NCLT order was dated June 12, 2026, with a subsequent order on June 16, 2026 correcting a typographical error in the date of the first motion order.
- · The shareholder meeting must be convened within 60 days from the date of the NCLT order (June 12, 2026).
- · The meeting will be conducted through electronic mode.
- · A certified copy of the NCLT order is enclosed with the filing.
24-06-2026
BASF India Limited's equity shareholders approved the Scheme of Arrangement for the demerger of its Agricultural Solutions Business into BASF Agricultural Solutions India Limited. The special resolution was passed with 99.9987% of votes in favor and only 0.0013% against, meeting the required majority. The meeting was held on June 24, 2026, pursuant to an NCLT order dated April 8, 2026.
- · The meeting was held on June 24, 2026 from 3:30 PM to 4:49 PM IST.
- · Record date for voting eligibility was June 17, 2026.
- · Promoter and Promoter Group held 31,743,220 shares (100% voted in favor).
- · Public Institutions held 4,977,585 shares; only 3,593,148 (72.19%) voted, all in favor.
- · Public Non-Institutions held 6,564,835 shares; only 325,117 (4.95%) voted, with 324,661 in favor and 456 against.
- · The Scrutinizer's report was issued on the same day as the meeting (June 24, 2026).
- · The resolution was a Special Resolution requiring majority in number representing three-fourths in value.
24-06-2026
Adani Ports and Special Economic Zone Limited held its 27th Annual General Meeting on June 24, 2026 via video conferencing, with 9 promoter group representatives and 111 public shareholders attending. The meeting concluded after 1 hour 15 minutes, and voting results on resolutions will be submitted separately.
- · The AGM was held on June 24, 2026 from 12:00 noon to 1:15 p.m. (duration 1 hour 15 minutes).
- · Remote e-voting was open from June 20, 2026 (9:00 a.m.) to June 23, 2026 (5:00 p.m.).
- · The record date (cut-off) for determining shareholders was June 17, 2026.
- · Voting results under Regulation 44(3) will be submitted separately.
24-06-2026
Refex Industries Limited (RIL) has received an order from the Hon'ble NCLT, Chennai Bench dated June 18, 2026, directing the convening of meetings of shareholders and creditors of RIL, Refex Green Mobility Limited (RGML), and Refex Mobility Limited (RML) to consider and approve a Composite Scheme of Amalgamation and Arrangement. The meetings are scheduled for August 5, 2026, with separate timings for secured creditors, unsecured creditors, and equity shareholders of the respective entities. The scheme remains subject to regulatory and other approvals.
- · The NCLT order was uploaded on its website at around 3:30 PM IST on June 24, 2026.
- · Meetings of secured and unsecured creditors of RGML are scheduled for August 5, 2026 at 10:00 AM and 10:30 AM IST respectively.
- · Meetings of equity shareholders, secured creditors, and unsecured creditors of RIL are scheduled for August 5, 2026 at 11:00 AM, 11:30 AM, and 12:00 PM IST respectively.
- · Meetings of equity shareholders of RML and RGML have been dispensed with.
- · RML has no secured or unsecured creditors, so no meeting is required for them.
24-06-2026
Vikram Solar Limited disclosed that the Hon'ble NCLAT has stayed the corporate insolvency resolution process initiated by Isitva Steels Private Limited under Section 9 of the IBC, 2016, until the next listing date. The company reported strong financial performance for fiscal 2026 with total revenue of INR 4,802.25 crore and profit-after-tax of INR 470.42 crore, while maintaining zero long-term debt and a debt-to-equity ratio of 0.03. However, the company faces ongoing insolvency proceedings, though the stay provides temporary relief.
- · The stay was granted by the Hon'ble NCLAT on an appeal filed by the company against the NCLT Kolkata Bench order admitting the insolvency petition.
- · No further steps can be taken by the interim resolution professional during the stay period.
- · The company has no long-term debt as of March 31, 2026.
- · The net working capital cycle improved to 44 days in Fiscal 2026 from 82 days in Fiscal 2025.
24-06-2026
ICICI Bank Limited has received RBI approval to purchase up to an additional 2% shareholding in its subsidiary, ICICI Prudential Life Insurance Company Limited, to maintain its stake above 50%. The approval is subject to compliance with certain conditions. This follows the bank's earlier disclosure on February 28, 2026 regarding the proposed purchase.
- · The RBI approval letter is dated June 24, 2026.
- · The bank's initial disclosure regarding the purchase was made on February 28, 2026.
- · The approval is subject to compliance with certain conditions (not specified in the filing).
24-06-2026
Yes Bank Limited disclosed the outcome of its participation in the JM Financial India Finance Forum held on June 23, 2026, where it conducted one-on-one and group meetings with 16 institutional investors and analysts. The bank confirmed that no unpublished price-sensitive information was shared during these interactions.
- · The conference was held physically in Mumbai on June 23, 2026.
- · Meetings were conducted in 1X1 (one-on-one) and group formats across four time slots from 10:00 AM to 2:00 PM IST.
- · The disclosure is made under Regulation 30 read with clause 15 of Para A of Part A of Schedule III of SEBI LODR Regulations.
- · A prior intimation of the event was given on May 13, 2026 (ref: YBL/CS/2026-27/028).
24-06-2026
Infosys, in collaboration with ANA’s Global CMO Growth Council and LIONS, announced the launch of the CMO AI Hub, an AI-powered peer-to-peer learning platform for global CMOs. The hub is powered by Infosys Aster and includes a companion CMO AI Playbook developed by the Infosys Knowledge Institute.
- · The CMO AI Hub is built for members of ANA’s Global CMO Growth Council, which has over 1,200 chief marketers worldwide and is chaired by Marc Pritchard of Procter & Gamble.
- · The hub is developed by Infosys Aster, an AI-amplified marketing suite, and includes proprietary case studies and curated peer insights via a conversational AI interface.
- · The CMO AI Playbook is based on one-on-one interviews with CMOs, engagement with marketing leaders at global industry events, and inputs from ANA members.
- · Human oversight, governance safeguards, and privacy-by-design principles are embedded in the hub.
- · Infosys employs over 325,000 people and operates in 63 countries.
- · ANA members represent 20,000 brands and $400 billion in annual marketing investment.
24-06-2026
Reliance Home Finance Limited, currently under Corporate Insolvency Resolution Process (CIRP), held its 11th Committee of Creditors (CoC) meeting on June 24, 2026, via video conferencing. The meeting was originally scheduled for June 15, 2026, but was rescheduled. No financial results or specific outcomes from the meeting were disclosed in this intimation.
- · The 11th CoC meeting was originally scheduled for June 15, 2026 at 3:00 PM IST but was rescheduled to June 24, 2026 at 11:00 AM IST.
- · The meeting was conducted through Video Conferencing.
- · The filing is a post-facto intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- · The Resolution Professional's IBBI registration is valid until December 31, 2026.
24-06-2026
BASF India Limited held an NCLT-convened equity shareholders meeting on June 24, 2026 to approve a scheme of arrangement for demerging its Agricultural Solutions business into a separate listed entity, BASF Agricultural Solutions India Limited (BASIL). The demerger, with a 1:1 share entitlement ratio, is expected to be completed during FY26-27. For the period 2025-26, the Agricultural Solutions business reported sales of INR 1944cr and profit before tax of INR 254cr, while the company noted that 12 new products launched in India since 2022 now constitute approximately 25% of its 2025-26 sales.
- · The demerger was cleared by SEBI and Stock Exchanges (No-Objection Letters received) on February 2, 2026
- · NCLT orders dispensing with the need for BIL’s Creditors Meeting were passed on April 8, 2026
- · Shareholders voting period was held from June 19 to June 23, 2026
- · Final court hearing for the scheme is pending; allotment of BASIL shares is expected by March 2027
- · BASIL shares will be listed on BSE and NSE
24-06-2026
Reliance Industries' step-down subsidiary Karkinos Healthcare has completed HPV DNA screening for over one lakh (100,000) women across India, marking a milestone in cervical cancer prevention. The program uses WHO-recommended HPV DNA testing and a digitally enabled care continuum to ensure follow-up from screening to treatment. The company aims to scale to one million tests next and eventually to one hundred million tests.
- · Karkinos Healthcare is a 100% step-down subsidiary of Reliance Industries Limited.
- · The screening program uses multiple implementation models including public-health programmes, public-private partnerships, CSR-supported initiatives, nurse-assisted and self-sampling programmes, district-level screening, and focused outreach for underserved communities.
- · The company aims to scale to one million tests next and eventually to one hundred million tests.
- · Cervical cancer causes an estimated 1.2 lakh new cases and over 75,000 deaths annually in India (GLOBOCAN/ICMR).
- · The WHO recommends HPV DNA testing as the preferred primary screening method over visual inspection (VIA) and cytology (Pap).
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