AYM Syntex merger scheme gets "no adverse observations" from exchanges

AYM Syntex Limited announced on August 30, 2025, that it has received "no adverse observations" from BSE Limited and National Stock Exchange of India Limited regarding its draft Scheme of Amalgamation with Mandawewala Enterprises Limited. These letters, dated August 29, 2025, indicate a positive step forward for the merger, which had been previously intimated on February 6, 2025.

The proposed scheme, under Sections 230 to 232 of the Companies Act, 2013, involves the amalgamation of Mandawewala Enterprises Limited (transferor company) with AYM Syntex Limited (transferee company). The observation letters confirm that the exchanges found no major issues with the draft scheme, subject to the company addressing specific regulatory comments and disclosures.

The validity of the observation letters is six months from August 29, 2025, within which AYM Syntex must submit the scheme to the National Company Law Tribunal (NCLT). The company is also mandated to disclose the observation letters on its website within 24 hours of receipt.