Gujarat Fluorochemicals Limited received No Objection Letters from BSE Limited and National Stock Exchange of India Limited on July 9, 2026, for its Composite Scheme of Arrangement involving Inox Leasing and Finance Limited, Inox Holdings and Investments Limited and Gujarat Fluorochemicals Limited. The draft scheme was first intimated to the exchanges on October 29, 2024 and December 26, 2024.
The scheme demerges Inox Leasing and Finance Limited, the holding company of Gujarat Fluorochemicals Limited, with its mutual fund distribution activities moving to Inox Holdings and Investments Limited upon implementation. Inox Leasing and Finance Limited and Inox Holdings and Investments Limited passed board resolutions dated March 25, 2026 confirming those activities shall transfer to Inox Holdings and Investments Limited.
SEBI issued comments on July 8, 2026 requiring Inox Leasing and Finance Limited to surrender its NBFC Certificate of Registration to the Reserve Bank of India within fifteen days of the scheme's effective date. The regulator directed disclosure of financial data for the three entities not older than six months, promoter shareholding before and after the scheme, and details of pending adjudication and recovery proceedings.
Gujarat Fluorochemicals Limited must publish the No Objection Letters on its website within 24 hours of receipt. The explanatory statement to shareholders must include a simple explanation of the scheme, its rationale, shareholder impact analysis, a cost-benefit assessment, the latest financials of all three entities and pre- and post-scheme shareholding details.
The observation letters remain valid for six months from July 9, 2026, within which the scheme must be submitted to the National Company Law Tribunal. The exchanges confirmed no adverse observations relating to listing requirements, enabling Gujarat Fluorochemicals Limited to file the scheme with the tribunal.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.