NCLT corrects Share India-Silverleaf merger appointed date to April 1, 2026
As filed · We are pleased to inform you that the Hon'ble NCLT, Ahmedabad Bench - 1, vide its Order pronounced on October 12, 2026, has rectified the Appointed Date of the Scheme from October 01, 2023 to April 01
What happened
FactThe NCLT Ahmedabad Bench rectified the appointed date in the approved amalgamation scheme of Silverleaf Capital Services Private Limited into Share India Securities Limited. The date was changed from October 1, 2023 to April 1, 2026; the scheme will become effective only after completion of the steps specified in the approved scheme.
Why it matters
CapitSignal interpretationOnce an insolvency process is admitted, control of the company passes from the board to a resolution professional and equity ranks last in any recovery.
What management said before
Prior statements by this company that CapitSignal has recorded changing.
Demand
WithdrawnSo, right now after the Q1 our institutional active clients stand at 212 versus 186 clients till Q4.
So, despite the extreme volatility due to international factors, markets, especially mid-cap, small-cap stocks are extremely volatile.
Change
FactImplication
CapitSignal interpretationDemand
RevisedSo, currently the ratio is around 60% volume being done by clientele business and 40% through PropDesk.
But on the institutional side, that institution team is constantly showing good growth. Every quarter they are able to grow around 15% to 20%.
Change
FactImplication
CapitSignal interpretationGuidance
DelayedSubject to overall market condition, we remain confident of delivering around 20% growth during the current financial year.
So, Rs. 470 crore is the number and by next two years our target is touch four figures, Rs. 1000 crore book we are targeting in next two years.
Change
FactImplication
CapitSignal interpretationWatch next
Fact- Admission or rejection of the application by the tribunal
- Appointment of a resolution professional
- Claims admitted against the company
- Subject to overall market condition, we remain confident of delivering around 20% growth during the current fi (management committed by FY27)
- And going forward also, we are confident that we should be able to do better this year compared to the last ye (management committed by FY27)
Evidence
- We are pleased to inform you that the Hon'ble NCLT, Ahmedabad Bench - 1, vide its Order pronounced on October 12, 2026, has rectified the Appointed Date of the Scheme from October 01, 2023 to April 01, 2026.(opens the original filing in a new tab)
- Earlier statement · Q1 FY27
- Latest statement · Q1 FY27
- Earlier statement · Q1 FY27
- Latest statement · Q1 FY27
- Earlier statement · Q1 FY27
- Latest statement · Q1 FY27
How CapitSignal classified this
- Reasoning:
- The correction changes the legal appointed date for the amalgamation, which may affect the scheme’s implementation timeline and related accounting or transaction treatment. The filing states that the scheme is not yet effective.
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%