Piramal Enterprises, Finance Move NCLT For Nod To Restructuring Scheme

Piramal Enterprises Ltd. and Piramal Finance Ltd. have jointly filed a petition with the Mumbai bench of the National Company Law Tribunal, seeking approval for their proposed composite scheme of arrangement, the company said in a filing to exchanges on Wednesday.

The move follows approvals secured from a majority of equity shareholders and secured creditors, the company noted. The restructuring plan aims to streamline operations and had previously been disclosed in filings dated May 28, July 4, and July 5.