Digjam Scheme of Arrangement: NCLT Hearing on Oct 28

What Digjam told the exchanges

Digjam Limited has informed stock exchanges that the National Company Law Tribunal (NCLT), Chennai Bench, has passed an order in connection with its proposed Scheme of Arrangement involving Reid & Taylor International Private Limited. The scheme remains a live, ongoing process, with the next hearing fixed for October 28, 2026, as per the company’s disclosures.

The company said the order is dated September 2, 2026. It relates to joint petitions filed under Sections 230 to 232 of the Companies Act, 2013. Digjam has also indicated it has provided the received NCLT order “for record” as part of its communication.

Parties and structure referenced in the scheme

In the disclosures, Reid & Taylor International Private Limited is described as the Demerged Company and Digjam Limited as the Resulting Company. The NCLT, Chennai Bench has admitted the petition linked to this proposed arrangement.

Admission at this stage reflects that the tribunal has taken the petition on file and issued procedural directions. It does not, by itself, conclude the process. The next procedural milestone flagged by the company is the hearing scheduled for October 28, 2026.

The NCLT Chennai order dated September 2, 2026

According to Digjam, the tribunal’s order dated September 2, 2026, sets out specific compliance steps that need to be completed before the next hearing. These steps include serving notices to a list of statutory and market regulators and publishing public notices in specified newspapers.

The company’s filing indicates that these directions are part of the tribunal process for schemes filed under Sections 230-232. The disclosures also state that the petition has been admitted and the matter has been posted for the next hearing on Wednesday, October 28, 2026.

Notices to regulators and authorities: who will be served

Digjam said the NCLT has directed the petitioner to serve notices on various statutory authorities for their representation. The list mentioned in the disclosure includes:

• Central Government
• Regional Director (Southern Region)
• Registrar of Companies, Coimbatore
• Income Tax Authorities
• Securities and Exchange Board of India (SEBI)
• BSE and NSE
• Board of Approval Special Economic Zone of India (Madras)
• Other sectoral regulatory authorities, as applicable

The purpose of these notices is to allow the relevant authorities to review the proposal and, if needed, file representations before the tribunal.

Timelines for representations and procedural presumption

The company’s disclosure states that the authorities have 30 days from receipt of the notice to make any representations. It also states that if no representation is received within this period, it will be presumed that the authority has no objections to the proposal.

This 30-day window is a defined procedural checkpoint. It matters because the tribunal typically expects evidence that required notices were served and that regulators were given the opportunity to respond before further steps are considered.

Publication directions: Business Standard and Makkal Kural

Digjam said the NCLT has also directed publication of the notice in two newspapers: Business Standard (English) and Makkal Kural (Tamil). The disclosures further state that the petitioner must file affidavits evidencing proof of service and publication within seven days.

These publication and affidavit requirements are part of the formal process designed to ensure that stakeholders and authorities are informed, and that the tribunal receives documentation of compliance.

Key dates Digjam has cited so far

Digjam referenced earlier intimations to the exchanges about the scheme. The company cited the following dates for prior updates: June 29, 2025; December 9, 2025; June 27, 2026; and August 16, 2026.

Separately, Digjam also disclosed that its 11th Annual General Meeting (AGM) is scheduled for Monday, September 28, 2026, at 11:00 am, and will be conducted via video conferencing.

Timeline table: what’s known from the disclosures

Market impact: what investors can take away from the procedural update

The update is primarily procedural. It confirms that the tribunal has admitted the petition, set a hearing date, and issued directions covering notices, regulator representations, and newspaper publications.

For investors tracking corporate actions, the key near-term markers from Digjam’s disclosure are the 30-day representation window for authorities and the scheduled NCLT hearing on October 28, 2026. The company’s communication also makes it clear that compliance evidence, including proof of service and publication, is expected to be filed within specified timelines.

Why this development matters in the scheme process

Schemes of arrangement typically progress through structured tribunal steps, and the NCLT’s directions described by Digjam fit within that framework. Serving notices to statutory authorities and giving them time to respond is a central part of the process.

The publication requirement is another standard procedural step intended to ensure transparency. By identifying the newspapers and requiring affidavits of compliance, the tribunal is setting measurable checkpoints before the matter returns for the next hearing.

What happens next based on confirmed information

Digjam has indicated it must complete the service of statutory notices and publish the required advertisements. It also needs to file affidavits evidencing proof of service and publication within seven days, as per the disclosure.

After these compliance steps, the next confirmed milestone is the scheduled hearing before the NCLT, Chennai Bench on October 28, 2026.