Cello World Limited on Monday, July 7, announced that it has received ‘No adverse observation’ / ‘No objection’ letters from both BSE and NSE, clearing the way to file its composite scheme of arrangement with the National Company Law Tribunal (NCLT).
The scheme involves a restructuring among Wim Plast Limited (WPL), Cello Consumer Products Private Limited (CCPPL) — a wholly owned subsidiary of Cello World — and Cello World Limited (CWL) itself, along with their respective shareholders and creditors.
In its regulatory filing, Cello World stated that the scheme had already been approved by the company’s Board of Directors in November 2024, and was subject to regulatory and statutory approvals. Following detailed scrutiny, both BSE and NSE issued observation letters (dated July 3 and July 2, 2025, respectively) with no adverse observations, allowing the company to proceed to NCLT.
Conditions highlighted by the exchanges
The observation letters set out several requirements and disclosures for the company to comply with:
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Full disclosure of any ongoing adjudication, enforcement actions, or litigation against the company, its promoters, and directors.
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Detailed information on the rationale, benefits, and financial implications of the demerger and amalgamation.
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Clear presentation of valuation reports, fairness opinions, share-swap ratio, and financial statements not older than six months.
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Ensuring that all new shares issued under the scheme are in dematerialised form.
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Compliance with SEBI’s circulars and Companies Act provisions, including obtaining creditors’ consent and incorporating all regulatory observations in the NCLT petition.
The filing was signed by Hemangi Pragnesh Trivedi, Company Secretary & Compliance Officer.
Cello World reiterated its commitment to complying with all regulatory norms while pursuing the scheme, which is expected to streamline its corporate structure and unlock synergies across its business segments.
