Sheela Foam Limited has announced an update regarding its Composite Scheme of Arrangement. The company has filed a certified copy of the order from the Hon’ble National Company Law Tribunal, Mumbai Bench, approving the scheme with the Registrar of Companies, Mumbai, via Form INC-28 on January 15, 2026.

This scheme involves Belvedore International Limited, Kanvas Concepts Private Limited, Kurlon Retail Limited, Komfort Universe Products and Services Limited, and Starship Value Chain and Manufacturing Private Limited. These entities will be amalgamated into Kurlon Enterprise Limited, and subsequently into Sheela Foam Limited, along with their respective shareholders and creditors, under Sections 230 to 232 of the Companies Act, 2013.

As per the scheme, shareholders of Kurlon Enterprise Limited, holding equity shares as of Friday, January 30, 2026 (the Record Date), will be allotted 52 equity shares of Sheela Foam Limited for every 100 equity shares held in Kurlon Enterprise Limited.