| Remarks (website dissemination) | The Company was admitted into the Corporate Insolvency Resolution Process (CIRP) pursuant to the order dated September 29, 2022, passed by the Hon'ble National Company Law Tribunal (NCLT). The resolution plan submitted by Ms. Priti Jain was approved by the members of the Committee of Creditors (CoC) with 100% voting share at their 12th meeting held on April 28, 2023. The said resolution plan was subsequently approved by the Hon'ble NCLT vide its order dated December 18, 2025.
Pursuant to Clause 4.1.3 of the approved Resolution Plan and in accordance with the applicable provisions of the Insolvency and Bankruptcy Code, 2016, Sanco Industries Limited ("Transferor Company") stands amalgamated with Carewell Exim Private Limited ("Transferee Company").
In terms of Clause 4.1.4 of the Resolution Plan, the Transferee Company has initiated the process of conversion into a public limited company, and the requisite application in this regard has already been filed with the concerned authorities. Upon approval of such conversion, the Transferee Company shall be renamed "Sanco Industries Limited" and shall carry out the necessary alterations to its Memorandum and Articles of Association in accordance with the provisions of the Companies Act, 2013. Further the transferee company has successfully converted into public company and changed its name to 'Sanco Industries Limited'.
Further, in accordance with Clause 4.1.5 of the approved Resolution Plan, the Transferee Company, upon completion of all requisite statutory, regulatory, and listing formalities, shall become an active listed entity. The equity shares shall thereafter be listed and traded under the name "Sanco Industries Limited" with the NSE symbol "SANCO", subject to approvals from the relevant regulatory authorities, including the stock exchanges.
Accordingly, all applicable listing compliances, disclosures, and regulatory requirements in respect of Sanco Industries Limited shall be undertaken based on the financial statements, records, and data of the Transferee Company.
Further, in accordance with Clause 4.1.6 of the approved Resolution Plan, the corporate debtor, Sanco Industries Limited, stands dissolved without being wound up. Consequently, the existing (suspended) members of the Board shall be deemed to have ceased to hold office, and the Board has been reconstituted with the directors and officers of the Transferee Company.
Accordingly, Mr. Naveen Kumar, Mr. Pankaj Saxena, and Ms. Priti Jain constitute the initial composition of the Board of Directors with effect from January 12, 2026 |