NCLT approves Dhani Services' corporate restructuring scheme

The NCLT Chandigarh Bench issued its final order on August 29, 2025, approving the Scheme of Arrangement for Dhani Services Limited and 19 other entities. This comprehensive scheme involves the amalgamation of Dhani Services Limited, Indiabulls Enterprises Limited, and numerous unlisted companies into Yaari Digital Integrated Services Limited. It also includes the demerger of the Real Estate Business Undertaking of India Land Hotels Mumbai Private Limited into Indiabulls Pharmacare Limited.

Shareholders of Dhani Services Limited approved the scheme with 99.663% of votes in favour, while Indiabulls Enterprises Limited shareholders gave 99.999% approval. Unsecured creditors of Indiabulls Enterprises Limited and shareholders of Yaari Digital Integrated Services Limited also approved the scheme. The appointed date for the scheme is April 1, 2023.

The NCLT noted that statutory authorities, including the Income Tax Department and the Reserve Bank of India, provided no objections or had their observations addressed. The scheme will become effective upon filing a certified copy of the order with the Registrar of Companies.