Raymond restructuring plan clears final court hurdle

Raymond announced that the National Company Law Tribunal (NCLT) has approved its Composite Scheme of Arrangement. The announcement follows earlier intimations regarding the consolidation of Raymond's engineering business and the segregation of its aerospace and defense operations. The scheme involves multiple Raymond Group entities, including JK Files & Engineering Limited, JK Maini Precision Technology Limited, Ring Plus Aqua Limited, Maini Precision Products Limited, and JK Maini Global Aerospace Limited. As per the scheme, Raymond will consolidate its engineering operations under JK Maini Precision Technology Limited and separate its aerospace and defense business into JK Maini Global Aerospace Limited. According to company financials, the book value of assets transferred from JK Files & Engineering Limited and JK Maini Precision Technology Limited are INR49537.67 Lakhs and INR9042.82 Lakhs respectively.