Kalpataru Limited announced that its Board of Directors, at a meeting held on January 22, 2024, had previously approved a Scheme of Arrangement for the demerger of the Demerged Undertaking (Project Magnus, Bandra East, Mumbai) from its wholly owned subsidiary, Kalpataru Properties Limited, into Kalpataru Limited. The Scheme was subsequently filed with the Hon’ble National Company Law Tribunal, Mumbai on September 30, 2024. However, the Executive Committee of the Board, in its meeting held on June 2, 2026, considered that the benefits envisaged from the Scheme are no longer relevant. Therefore, the Committee has approved the withdrawal of the Scheme. The withdrawal of the Scheme has no financial impact on Kalpataru Limited or Kalpataru Properties Limited. The meeting of the Executive Committee concluded at 06:30 p.m. This information is also available on the company's website.
