PPAP Automotive sets Sept 30, 2026 creditor vote meet

What has been scheduled

PPAP Automotive Limited has scheduled separate meetings of its secured and unsecured creditors on September 30, 2026 to consider and approve a proposed Scheme of Amalgamation. The scheme involves the amalgamation of Avinya Batteries Limited into PPAP Automotive. The meetings follow directions from the National Company Law Tribunal (NCLT), New Delhi Bench, through an order dated July 29, 2026. PPAP Automotive has said the unsecured creditors’ meeting will be held at 3:30 pm through video conferencing. A secured creditors’ meeting has also been scheduled for the same day at 12:30 pm. The scheme’s appointed date is April 1, 2026. The creditor meetings are part of the process under Sections 230 to 232 of the Companies Act, 2013.

NCLT order and the legal framework

The NCLT’s July 29, 2026 order relates to convening meetings tied to the proposed amalgamation under Sections 230 to 232 of the Companies Act, 2013. The order requires the company to issue notices at least one month before the meetings. It also requires that notices include the Scheme of Amalgamation and an explanatory statement. This explanatory statement is to be provided under Section 230(3) of the Companies Act, 2013 read with Rule 6 of the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. The Tribunal also directed advertising of the notice convening the meetings in the prescribed format. Specifically, advertising is to be done as per Form No. CAA.2 under Rule 7 of the 2016 Rules. Alongside print publication, the notice convening meetings must be published on the company’s website for secured creditors, unsecured creditors, and equity shareholders (as applicable for each applicant company).

Unsecured creditors meeting: time, mode, and voting window

PPAP Automotive’s meeting of unsecured creditors is scheduled for September 30, 2026 at 3:30 pm via video conferencing. The purpose stated is to consider and approve the scheme of amalgamation of Avinya Batteries Limited into PPAP Automotive. For unsecured creditors, the company has provided a remote e-voting facility. Remote e-voting will be available from September 26, 2026 at 9:00 am to September 29, 2026 at 5:00 pm. The voting rights for unsecured creditors are to be determined in proportion to the outstanding amount due. The cut-off date for determining voting rights is March 31, 2026. These details align with the meeting process typically followed for creditor approvals under the Companies Act framework.

Secured creditors meeting scheduled on the same day

A separate meeting of PPAP Automotive’s secured creditors has also been scheduled for September 30, 2026. The secured creditors’ meeting is set for 12:30 pm. While the article details the unsecured creditor e-voting window and voting rights basis, it separately notes the secured creditors meeting schedule. Both creditor meetings are part of the Tribunal-directed process for the proposed amalgamation. The scheduling of two meetings on the same date indicates the company is sequencing approvals across creditor classes. As required by the order, notices for these meetings must be issued with sufficient lead time. The company is also required to make the meeting notice available on its website.

Publication and notice requirements

The Tribunal’s order requires that publication be made at least 30 days before the meetings. The publications specified are “Business Standard” (English, Delhi Edition) and “Business Standard” (Hindi, Delhi Edition). The requirement covers the notice convening the meetings, to be advertised in line with Form No. CAA.2 (Rule 7) of the 2016 Rules. In addition to advertisements, the company must circulate notices with the Scheme and the explanatory statement. The explanatory statement must comply with Section 230(3) and Rule 6. The order also requires publication of the notice convening meetings of secured creditors and unsecured creditors for Applicant Company No.1, and secured creditors, unsecured creditors, and equity shareholders for Applicant Company No.2, on the company’s website. These procedural steps are designed to ensure creditors and shareholders receive standard disclosures before voting.

Quorum and adjournment rule

The NCLT order also specifies how quorum shortfalls are to be handled. If quorum is not present at the commencement of a respective meeting, the meeting shall be adjourned by 30 minutes. This rule applies to the creditor and shareholder meetings convened under the order. The provision is intended to allow additional time for attendance at the scheduled start. It also provides clarity on process for the meeting chair and participants. Such directions are typically included to reduce uncertainty on meeting validity. The instruction is part of the broader set of directions issued by the Tribunal for convening the meetings. Companies are expected to adhere to these directions while conducting meetings.

Scale of stakeholders directed to be convened

The NCLT directed the convening of meetings not only for PPAP Automotive’s stakeholders but also for Avinya Batteries’ creditors. As per the order, meetings were directed for Avinya Batteries’ four secured creditors and 66 unsecured creditors. The Tribunal also directed meetings of PPAP Automotive’s 15,675 equity shareholders, nine secured creditors, and 653 unsecured creditors. These figures provide a snapshot of the stakeholder base involved in the process. The creditor meetings scheduled by PPAP Automotive fit within this broader direction. The inclusion of equity shareholders indicates the scheme requires consideration beyond creditors alone. The Tribunal direction frames the amalgamation as a multi-stakeholder approval exercise.

Key facts table

AGM schedule filed with exchanges

Separately from the amalgamation process, PPAP Automotive has scheduled its 31st Annual General Meeting (AGM) for September 18, 2026. The AGM will commence at 11:30 am. It will be conducted through video conferencing or other audio-visual means. The company issued the notice pursuant to Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The AGM notice was filed with the Bombay Stock Exchange and the National Stock Exchange of India Limited on August 24, 2026. The AGM schedule is a parallel corporate calendar event and is distinct from the creditor meetings directed for the amalgamation. Together, the AGM and the scheme meetings set up a busy set of compliance milestones through September 2026.

Case reference and other disclosed context

The matter is referenced as “AVINYA BATTERIES LIMITED & PPAP Automotive Limited”, with Case Number C.A.(CAA)-41/230-232/ND/2026 and citation 2026 LLBiz NCLT(DEL) 816. The article also describes PPAP Automotive as an automotive manufacturer in India specialising in automotive sealing systems and parts for passenger vehicles, two wheelers, and commercial vehicles. Separately, it notes that PPAP sold a 50% PTI stake to Tokai for ₹100 crore, effective January 1, with completion by February 28, 2026. It also mentions that PPAP Automotive informed the exchange about a schedule of meet for the quarter and nine months ended December 31, 2025. These items appear as prior disclosures and context points alongside the amalgamation timeline. They indicate that the company has been making regular market disclosures on corporate actions and compliance events.

Why this matters for investors and creditors

For creditors, the scheduled meetings and the e-voting window set the immediate timetable for participation in the amalgamation process. The cut-off date of March 31, 2026 is relevant because voting rights for unsecured creditors are tied to outstanding amounts due as of that date. For investors, the process is notable because it involves a Tribunal-supervised scheme affecting the corporate structure by merging Avinya Batteries into PPAP Automotive. The stakeholder counts directed by the NCLT show the scale of participation expected across creditors and equity shareholders. The requirement to publish notices in two editions of Business Standard and to host notices on the company’s website is meant to provide broad access to scheme documents. The company’s current share price is stated as ₹259.25, providing a market reference point while the corporate process proceeds. The next confirmed milestones are the AGM on September 18, 2026 and the creditor meetings on September 30, 2026, as scheduled.