JK Paper Limited Completes Major Corporate Restructuring with Subsidiary Amalgamations and Demerger Operations

JK Paper Limited has announced the successful completion of its comprehensive corporate restructuring scheme, which became effective on March 15, 2026, following the filing of the National Company Law Tribunal's sanctioning order with the Registrar of Companies. Scheme Implementation and Regulatory Approval The composite scheme of arrangement was sanctioned by the Hon'ble National Company Law Tribunal, Ahmedabad Bench on February 3, 2026. The certified copy of this order was subsequently filed with the Registrar of Companies on March 15, 2026, marking the official effective date of the comprehensive restructuring plan. Subsidiary Amalgamations The restructuring involved the amalgamation of three wholly-owned subsidiaries with JK Paper Limited, effective from the appointed date of April 1, 2024: Amalgamated Companies: Status JKPL Utility Packaging Solutions Private Limited: Dissolved without winding up Securipax Packaging Private Limited: Dissolved without winding up Horizon Packs Private Limited: Dissolved without winding up Appointed Date: April 1, 2024 These companies have been dissolved without winding up in accordance with the provisions of the scheme, streamlining JK Paper's corporate structure. Demerger and Business Reorganization The scheme also encompassed significant demerger operations involving Enviro Tech Ventures Limited (ETVL). The demerged undertaking of ETVL was transferred to PSV Agro Products Private Limited with effect from April 1, 2025. In consideration of this transfer, PSV Agro issued and allotted equity shares to eligible ETVL shareholders according to the specified share exchange ratio, including 31.12% equity shares to JK Paper Limited, making PSV Agro an associate company. The residual business of ETVL, including its investment in The Sirpur Paper Mills Limited (SPML), was amalgamated with JK Paper Limited effective April 1, 2025. This transaction resulted in SPML becoming a direct wholly-owned subsidiary of JK Paper Limited. Capital Structure Enhancement A significant outcome of the restructuring is the substantial increase in JK Paper's authorized share capital: Capital Structure Changes: Amount Previous Authorized Capital: ₹5,00,00,00,000 New Authorized Capital: ₹12,26,46,66,290 Increase Amount: ₹7,26,46,66,290 Regulatory Approval: Subject to Registrar of Companies approval This capital increase will necessitate amendments to Capital Clause V of the company's Memorandum of Association, with the updated document to be hosted on the company's website. Preference Share Conversion As part of the restructuring, the redeemable preference shares of ETVL held by JK Paper were reduced and converted into an unsecured loan of equivalent amount. Upon the amalgamation of ETVL's residual business with the company, this unsecured loan was cancelled. JK Paper will issue and allot equity shares to eligible ETVL shareholders in accordance with the share exchange ratio specified in the scheme. Legal Binding and Compliance The scheme, as sanctioned by the National Company Law Tribunal, is legally binding on all companies involved and their respective shareholders and stakeholders. The restructuring represents a significant milestone in JK Paper's corporate evolution, consolidating its operations and optimizing its subsidiary structure for enhanced operational efficiency. JK Paper Limited has announced the resignation of a senior management personnel under regulatory disclosure requirements. The company informed stock exchanges about the departure of a key executive from its digital and information technology division. Executive Departure Details Shri Subhendu Kesh, who served as Head-Digital & IT and Senior Management Personnel, has resigned from his position effective from close of business hours on 6th March 2026. The resignation was formally communicated to the company through a letter dated 1st December 2025. Parameter: Details Employee Name: Shri Subhendu Kesh Position: Head-Digital & IT Designation Level: Senior Management Personnel Resignation Date: 1st December 2025 Effective Date: 6th March 2026 Notice Period: Over 3 months Reason for Resignation According to the resignation letter, Kesh decided to pursue opportunities outside the company to explore new challenges. He emphasized that his decision was not driven by any material issues with the company but rather represented a personal choice for career advancement. Regulatory Compliance The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. JK Paper Limited confirmed that there are no other material reasons beyond those mentioned by the employee for his resignation. The company provided the complete resignation letter as an annexure to ensure transparency in the disclosure process. Formal Communication The resignation was accepted on 6th March 2026, with the employee being relieved of his responsibilities on the same day. Company Secretary & Compliance Officer Pradeep Joshi signed the regulatory filing, ensuring proper documentation and compliance with listing requirements. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians. As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation. We plan to change that - a technology-led platform built for super traders and long term investors.