JK Tyre merger scheme gets creditor and shareholder approval

JK Tyre & Industries Limited announced today that its scheme of amalgamation with Cavendish Industries Limited was approved by both unsecured creditors and equity shareholders at meetings held on September 3, 2025. This decision follows directions from the National Company Law Tribunal, Jaipur Bench.

Unsecured creditors voted overwhelmingly in favor, with 221 creditors representing a value of INR 1,382,98,96,954, or 100% of valid votes cast, supporting the resolution. Equity shareholders also approved the scheme with a substantial majority. Of the 541 equity shareholders who voted, 529 (99.99%) representing 20,39,14,483 equity shares voted in favor, while 12 (0.01%) representing 2,411 equity shares voted against.

The resolution, which encompasses the amalgamation of Cavendish Industries Limited ("Transferor Company") with JK Tyre & Industries Limited ("Transferee Company") and their respective shareholders, aligns with sections 230 to 232 of the Companies Act, 2013. The company is now authorized to take all necessary steps to give effect to the resolution and implement the scheme.