JK Paper scheme gets full approval from creditors and NCD holders

JK Paper Limited announced that its composite scheme of arrangement, involving various transferor companies, demerged companies, and a resulting company, has received overwhelming approval from both secured creditors and non-convertible debenture (NCD) holders. The scheme entails the amalgamation of JKPL Utility Packaging Solutions Private Limited, Securipax Packaging Private Limited, and Horizon Packs Private Limited with and into JK Paper Limited. Additionally, it includes the reduction and conversion of redeemable preference shares of Enviro Tech Ventures Limited into unsecured loans, the demerger of Enviro Tech Ventures Limited's undertaking into PSV Agro Products Private Limited, and the re-organization of transferee company reserves.

The meeting of secured creditors, held on Sunday, November 2, 2025, at 4:00 p.m. (IST), saw five creditors casting votes in favor of the resolution, representing a total outstanding amount of INR 1,259,53,27,510, achieving 100% approval. Similarly, a separate meeting for NCD holders, held at 4:30 p.m. (IST) on the same day, recorded one NCD holder voting in favor, representing an outstanding amount of INR 254,48,75,000, also achieving 100% approval.

Furthermore, a combined vote of secured creditors including NCD holders, totaling six votes, approved the resolution with an aggregate outstanding amount of INR 1,514,02,02,510, also at 100%. The approvals, obtained through remote e-voting and e-voting at the meetings, were scrutinized by advocate Ansh Kakar, as directed by the Hon'ble National Company Law Tribunal, Ahmedabad Bench.