Asian Granito India Limited (ASIANTILES) announced that the Hon'ble National Company Law Tribunal (NCLT), Ahmedabad Bench, vide its order dated 12 June, 2025, has approved the Composite Scheme of Arrangement.

• The scheme involves Asian Granito India Limited (AGIL) and eight other companies: Affil Vitrified Private Limited, Ivanta Ceramics Industries Private Limited, Crystal Ceramic Industries Limited, Affil Ceramics Limited, Ivanta Ceramic Limited, Crystal Vitrified Limited, Amazoone Ceramics Limited, and AGL Industries Limited.
• Rationale for the scheme includes:
  • Demerger: Integration of the tiles manufacturing businesses from Affil Vitrified Private Limited, Ivanta Ceramics Industries Private Limited, and Crystal Ceramic Industries Limited into AGIL's wholly-owned subsidiaries: Affil Ceramics Limited, Ivanta Ceramic Limited, and Crystal Vitrified Limited, respectively. This aims to expand AGIL's tiles business, provide better control over manufacturing processes, and diversify risk for stakeholders.
  • Slump Sale and Merger: Reorganization of AGIL's diversified business portfolio. This includes the slump sale of the Marbles & Quartz Undertaking from AGIL into Amazoone Ceramics Limited, and the merger of AGL Industries Limited into Amazoone Ceramics Limited. This aims to create a focused Marbles & Quartz company and enhance operational efficiency.
• The restructuring is expected to lead to: better control on production capacity, optimization of working capital, inorganic and organic expansion opportunities, economies of scale, and enhanced operational efficiencies through pooling of resources and expertise.
• The NCLT considered and found satisfactory the petitioner companies' responses to observations from the Regional Director and Registrar of Companies regarding consideration payment, authorized capital, SEBI compliance, name change, and auditor remarks. The company has undertaken to comply with all applicable requirements.