Asian Granito India Secures NCLT Approval For Composite Scheme Of Arrangement

Image Source : BW Legal World

Asian Granito India Ltd has received approval from the National Company Law Tribunal for its Composite Scheme of Arrangement, marking a significant restructuring initiative. The scheme involves the demerger, slump sale, and amalgamation of multiple entities under the Asian Granito Group, aimed at streamlining operations and enhancing business efficiency.

Key Highlights Of The NCLT Approval
- The Composite Scheme of Arrangement includes the restructuring of Asian Granito India Ltd along with affiliated entities such as Affil Vitrified Private Limited, Ivanta Ceramics Industries Private Limited, and Crystal Ceramic Industries Limited.
- The scheme is designed to consolidate business operations, optimize resource allocation, and improve financial transparency.
- The approval follows extensive discussions and voting by equity shareholders and secured creditors, ensuring compliance with regulatory requirements.

Strategic Impact On Asian Granito’s Business Operations
- The restructuring enables promoters to consolidate all business activities under a single holding company, simplifying legal and regulatory compliance.
- The demerger of specific manufacturing undertakings will allow focused growth in specialized product segments, including ceramic and vitrified tiles.
- The amalgamation of affiliated entities is expected to enhance operational efficiency and strengthen Asian Granito’s market position.

Market Position And Future Outlook
- Asian Granito India Ltd continues to expand its footprint in the tile and bathware industry, leveraging its five state-of-the-art manufacturing facilities.
- The restructuring is anticipated to drive long-term growth, improve financial performance, and attract investor confidence.
- Analysts expect the move to enhance Asian Granito’s competitive edge in domestic and international markets.

About Asian Granito India Ltd
Asian Granito India Ltd is a leading manufacturer of ceramic, wall, and vitrified tiles, bathware, sanitaryware, and marble products. The company operates multiple manufacturing units and is listed on major stock exchanges, reinforcing its presence in the global market.

Sources: MergersIndia, BSE India, Finance Saathi.