India Cements: Unsecured creditors approve amalgamation scheme

India Cements announced on September 27, 2025, that its unsecured creditors approved the Scheme of Amalgamation of ICL Financial Services Limited, ICL International Limited, ICL Securities Limited, and India Cements Infrastructures Limited with The India Cements Limited. The approval was granted during a meeting held via video conferencing following directions from the National Company Law Tribunal (NCLT), Chennai Bench.

The resolution was passed with requisite majority, with 72 unsecured creditors voting "IN FAVOUR" via remote e-voting. This represented 100% of the total unsecured creditors who voted and 100% of the valid votes cast by value (INR 421,77,08,163). No votes were cast "AGAINST" the resolution.

However, 11 unsecured creditors, representing a value of INR 2,10,93,440, cast invalid votes due to a lack of authorization documents. The NCLT-appointed scrutinizer, F. Raymond Albyness, certified the resolution's passage, noting compliance with the Companies Act, 2013, and related regulations.