NCLT Chennai Allows First Motion For POCL Enterprises-Planetfirst Green Amalgamation

The National Company Law Tribunal at Chennai has directed POCL Enterprises Limited to convene meetings of its equity shareholders and unsecured creditors to consider a proposed scheme of amalgamation with Planetfirst Green Private Limited.

The shares of POCL are listed on the National Stock Exchange and Bombay Stock Exchange.

A coram of Judicial Member Sanjiv Jain and Technical Member Venkataraman Subramaniam passed the order.

Planetfirst Green is engaged in lead recycling and refining, while POCL Enterprises manufactures lead metals and metallic oxides.

The companies stated that the amalgamation would help POCL expand its presence in Western India through Planetfirst Green's Surat unit, create a vertically integrated business structure, and improve operational efficiency and management of the combined businesses.

The Tribunal dispensed with meetings of Planetfirst Green's equity and preference shareholders and secured creditors, as well as its unsecured creditors, taking into account the consent affidavits. '

With respect to POCL, the Tribunal directed the company to hold a meeting of its equity shareholders on November 27, 2026, at 10:30 AM, and a meeting of its unsecured creditors on the same day at 12:30 PM. It also dispensed with meetings of its warrant holders and secured creditors after noting that all members had consented to the scheme.

The Tribunal also issued directions concerning the quorum, appointment of a chairperson and scrutiniser, service of notices, publication of advertisements and reporting of meeting results.

Accordingly, the application was disposed of.

For Applicants: Krishna Sharan Mishra, Company Secretary