Larsen & Toubro Limited (L&T) has received a certified copy of an order from the National Company Law Tribunal (NCLT), Mumbai Bench, directing it to convene a shareholders meeting for the proposed Scheme of Arrangement with L&T Realty Properties Limited (LTRPL). The scheme involves the transfer of L&T's real estate undertaking to LTRPL as a going concern. L&T is the Transferor Company and LTRPL is the Transferee Company under the arrangement.
The NCLT order dated June 12, 2026, read with a rectification order dated June 16, 2026, requires L&T to hold the meeting within 60 days. L&T received the certified copy on June 24, 2026. The meeting will be conducted through electronic mode to seek shareholder approval for the proposed scheme.
The rectification order corrected a clerical typographical error where the date of the first motion order was recorded as December 12, 2026 instead of June 12, 2026. L&T clarified that the error does not affect the substance or directions of the order.
L&T had previously informed the stock exchanges about the proposed scheme on March 19, 2026 under Regulation 30 of the SEBI Listing Regulations. L&T will finalise the date of the meeting and dispatch the notice to shareholders as required under the NCLT directions.
The certified copy of the NCLT order has been submitted to BSE and NSE. The record date and meeting schedule will be announced in due course. The scheme remains subject to receipt of all requisite approvals from shareholders and relevant authorities.
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.