Kalpataru Limited has announced the receipt of an order from the National Company Law Tribunal (NCLT), Mumbai Bench Court III, Special Bench, dated July 8, 2026. This order permits the withdrawal of the Scheme of Arrangement concerning the demerger of the Demerged Undertaking, Project Magnus, located in Bandra (East), Mumbai. The demerger was proposed to take Project Magnus from Kalpataru Properties Limited, a wholly owned subsidiary, into Kalpataru Limited. The Scheme was to be effective on the Appointed Date of April 1, 2024, or another date as approved by the NCLT. This withdrawal follows an earlier disclosure on June 2, 2026, where the Executive Committee of Kalpataru Limited's Board of Directors had approved the withdrawal of the demerger scheme. The company received the official order on July 8, 2026, at 12:20 p.m. The information is also available on the company's website.
