Sections 230 to 232 of the Companies Act, 2013. In its order, the tribunal noted that the proposed restructuring complied with all statutory and procedural requirements and was fair and lawful in nature.

No Objections from Stakeholders

The tribunal also recorded that the scheme did not attract any objections from shareholders, creditors, or regulatory authorities. All necessary approvals and filings were completed during the process, allowing the restructuring to move forward without legal or regulatory hurdles.

Lending Business to Remain with Poonawalla Finance

Following the demerger, Poonawalla Finance will continue to operate as a non-banking financial company (NBFC). The company will retain its lending business and remain focused on financial services, with its regulatory status as an NBFC unchanged after the implementation of the scheme.

Real Estate Operations to Be Spun Off

Under the approved arrangement, Poonawalla Finance’s commercial real estate leasing assets will be transferred to two separate entities—Rising Sun Holdings and Synergist Realtors. These resulting companies will house the identified real estate-related assets and liabilities as outlined in the scheme.

Structure of the Demerger

The restructuring involves the hiving off of specific real estate undertakings into the two resulting entities, with assets and liabilities allocated in accordance with the tribunal-approved framework. Once the demerger becomes effective, each entity will function independently, allowing for sharper strategic focus across businesses.

Summary:
The NCLT has approved Poonawalla Finance’s scheme to demerge its lending and commercial real estate businesses. Post restructuring, Poonawalla Finance will continue as an NBFC focused on lending, while its real estate assets will be housed in two separate entities, enabling independent operations and clearer business focus.

This article is intended solely for educational and informational purposes. The securities or companies mentioned are provided as examples and should not be considered as recommendations. Nothing contained herein constitutes personal financial advice or investment recommendations. Readers are advised to conduct their own research and consult a qualified financial advisor before making any investment decisions.

Investments in securities markets are subject to market risks. Please read all related documents carefully before investing.