NCLT Approves Amalgamation of Uniglobus Electricals with Polycab India Limited
February 28, 2026
NCLT Ahmedabad has approved the amalgamation scheme of Uniglobus Electricals and Electronics Private Limited, a wholly-owned subsidiary, with Polycab India Limited under Companies Act provisions. The scheme will be effective upon filing the certified NCLT order copy with Registrar of Companies, Ahmedabad. This corporate restructuring consolidates subsidiary operations within the parent company structure.
Polycab India Limited has received regulatory approval for a significant corporate restructuring initiative. The National Company Law Tribunal (NCLT), Ahmedabad Bench has pronounced an order approving the scheme of amalgamation involving the company and its wholly-owned subsidiary.
NCLT Approval Details
The Hon'ble NCLT has approved the amalgamation scheme under the provisions of Sections 230 to 232 and other applicable provisions of the Companies Act, 2013, read with the rules framed thereunder. The approval covers the merger of Uniglobus Electricals and Electronics Private Limited with Polycab India Limited.
Parameter: Details Transferor Company: Uniglobus Electricals and Electronics Private Limited Transferee Company: Polycab India Limited Relationship: Wholly-owned Subsidiary Legal Framework: Companies Act, 2013 (Sections 230-232) Approving Authority: NCLT Ahmedabad Bench
Implementation Timeline
The amalgamation scheme will become effective on the date when the certified copy of the NCLT order is filed with the Registrar of Companies, Ahmedabad. This filing represents the final step in the regulatory approval process for the corporate restructuring.
Documentation and Compliance
The company has made the NCLT order publicly available on its website for stakeholder reference. The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring compliance with mandatory disclosure requirements.
Corporate Structure Impact
This amalgamation represents a consolidation of operations, with the wholly-owned subsidiary Uniglobus Electricals and Electronics Private Limited merging into the parent company. Such corporate restructuring typically aims to streamline operations and optimize organizational efficiency within the group structure.
Polycab India Limited has successfully concluded its postal ballot process, with shareholders approving all five proposed resolutions through electronic voting. The company announced the results on February 23, 2026, following the completion of the e-voting period that concluded on February 22, 2026.
Approved Resolutions and Voting Results
The postal ballot covered five key corporate governance and leadership matters, all of which received strong shareholder support. The resolutions addressed independent director re-appointment and significant changes in executive leadership structure.
Resolution Type Description Votes in Favour Approval Rate 1 Special Re-appointment of Mrs. Manju Agarwal as Independent Director 12,12,86,845 92.704% 2 Ordinary Change in designation of Mr. Bharat A. Jaisinghani to Joint Managing Director 13,08,89,359 99.999% 3 Ordinary Re-appointment of Mr. Bharat A. Jaisinghani as Whole-time Director for five years 13,04,58,489 99.665% 4 Ordinary Change in designation of Mr. Nikhil R. Jaisinghani to Joint Managing Director 13,08,89,339 99.999% 5 Ordinary Re-appointment of Mr. Nikhil R. Jaisinghani as Whole-time Director for five years 13,04,58,473 99.665%
Leadership Restructuring Details
The most significant changes involve the elevation of two executive directors to joint managing director positions. Mr. Bharat A. Jaisinghani (DIN: 00742995) and Mr. Nikhil R. Jaisinghani (DIN: 00742771) both had their designations changed from Executive Director to Joint Managing Director effective January 16, 2026. Additionally, both executives were re-appointed as Whole-time Directors for five-year terms beginning May 13, 2026, maintaining their Joint Managing Director designations.
Shareholder Participation Analysis
The e-voting process demonstrated strong shareholder engagement across different categories:
Shareholder Category Total Shares Held Participation Rate Promoter and Promoter Group 9,25,82,842 100.000% Public Institutions 3,91,20,304 84.02% - 84.19% Public Non-Institutions 1,88,35,327 28.563% Total Outstanding Shares 15,05,38,473 86.91% - 86.95%
E-Voting Process and Compliance
The postal ballot notice was issued on January 16, 2026, with the e-voting period commencing January 24, 2026, at 9:00 AM IST and concluding February 22, 2026, at 5:00 PM IST. National Securities Depository Limited served as the Electronic Voting Service Provider, facilitating the voting process through their platform at www.evoting.nsdl.com .
The company sent the postal ballot notice electronically to 3,57,394 members who had registered email addresses, out of a total 3,71,248 shareholders as of the record date January 16, 2026. For members without registered email addresses, public notices were published in Financial Express (English) and Gujarat Samachar (Gujarati) newspapers on January 24, 2026.
Scrutinizer's Certification
Mr. Avinash Bagul (Membership No. F5578/CP No. 19862), Partner of M/s. BNP & Associates, served as the appointed scrutinizer for the postal ballot process. The scrutinizer's report confirmed compliance with all regulatory requirements under the Companies Act, 2013, and SEBI Listing Regulations, certifying that all resolutions were passed with requisite majority.
The voting results and scrutinizer's report have been made available on the company's website at www.polycab.com and on the NSDL website, ensuring transparency and regulatory compliance. All resolutions are deemed to have been passed on February 22, 2026, the last date of the e-voting period.
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As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation. We plan to change that - a technology-led platform built for super traders and long term investors.
NCLT Approval Details
The Hon'ble NCLT has approved the amalgamation scheme under the provisions of Sections 230 to 232 and other applicable provisions of the Companies Act, 2013, read with the rules framed thereunder. The approval covers the merger of Uniglobus Electricals and Electronics Private Limited with Polycab India Limited.
Parameter: Details Transferor Company: Uniglobus Electricals and Electronics Private Limited Transferee Company: Polycab India Limited Relationship: Wholly-owned Subsidiary Legal Framework: Companies Act, 2013 (Sections 230-232) Approving Authority: NCLT Ahmedabad Bench
Implementation Timeline
The amalgamation scheme will become effective on the date when the certified copy of the NCLT order is filed with the Registrar of Companies, Ahmedabad. This filing represents the final step in the regulatory approval process for the corporate restructuring.
Documentation and Compliance
The company has made the NCLT order publicly available on its website for stakeholder reference. The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring compliance with mandatory disclosure requirements.
Corporate Structure Impact
This amalgamation represents a consolidation of operations, with the wholly-owned subsidiary Uniglobus Electricals and Electronics Private Limited merging into the parent company. Such corporate restructuring typically aims to streamline operations and optimize organizational efficiency within the group structure.
Polycab India Limited has successfully concluded its postal ballot process, with shareholders approving all five proposed resolutions through electronic voting. The company announced the results on February 23, 2026, following the completion of the e-voting period that concluded on February 22, 2026.
Approved Resolutions and Voting Results
The postal ballot covered five key corporate governance and leadership matters, all of which received strong shareholder support. The resolutions addressed independent director re-appointment and significant changes in executive leadership structure.
Resolution Type Description Votes in Favour Approval Rate 1 Special Re-appointment of Mrs. Manju Agarwal as Independent Director 12,12,86,845 92.704% 2 Ordinary Change in designation of Mr. Bharat A. Jaisinghani to Joint Managing Director 13,08,89,359 99.999% 3 Ordinary Re-appointment of Mr. Bharat A. Jaisinghani as Whole-time Director for five years 13,04,58,489 99.665% 4 Ordinary Change in designation of Mr. Nikhil R. Jaisinghani to Joint Managing Director 13,08,89,339 99.999% 5 Ordinary Re-appointment of Mr. Nikhil R. Jaisinghani as Whole-time Director for five years 13,04,58,473 99.665%
Leadership Restructuring Details
The most significant changes involve the elevation of two executive directors to joint managing director positions. Mr. Bharat A. Jaisinghani (DIN: 00742995) and Mr. Nikhil R. Jaisinghani (DIN: 00742771) both had their designations changed from Executive Director to Joint Managing Director effective January 16, 2026. Additionally, both executives were re-appointed as Whole-time Directors for five-year terms beginning May 13, 2026, maintaining their Joint Managing Director designations.
Shareholder Participation Analysis
The e-voting process demonstrated strong shareholder engagement across different categories:
Shareholder Category Total Shares Held Participation Rate Promoter and Promoter Group 9,25,82,842 100.000% Public Institutions 3,91,20,304 84.02% - 84.19% Public Non-Institutions 1,88,35,327 28.563% Total Outstanding Shares 15,05,38,473 86.91% - 86.95%
E-Voting Process and Compliance
The postal ballot notice was issued on January 16, 2026, with the e-voting period commencing January 24, 2026, at 9:00 AM IST and concluding February 22, 2026, at 5:00 PM IST. National Securities Depository Limited served as the Electronic Voting Service Provider, facilitating the voting process through their platform at www.evoting.nsdl.com .
The company sent the postal ballot notice electronically to 3,57,394 members who had registered email addresses, out of a total 3,71,248 shareholders as of the record date January 16, 2026. For members without registered email addresses, public notices were published in Financial Express (English) and Gujarat Samachar (Gujarati) newspapers on January 24, 2026.
Scrutinizer's Certification
Mr. Avinash Bagul (Membership No. F5578/CP No. 19862), Partner of M/s. BNP & Associates, served as the appointed scrutinizer for the postal ballot process. The scrutinizer's report confirmed compliance with all regulatory requirements under the Companies Act, 2013, and SEBI Listing Regulations, certifying that all resolutions were passed with requisite majority.
The voting results and scrutinizer's report have been made available on the company's website at www.polycab.com and on the NSDL website, ensuring transparency and regulatory compliance. All resolutions are deemed to have been passed on February 22, 2026, the last date of the e-voting period.
We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better.
Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians.
As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation. We plan to change that - a technology-led platform built for super traders and long term investors.