The Board of Meghmani Organics Limited (BSE:MEGH) announced the spin-off of Other Business on January 28, 2020. Under the transaction, Meghmani Organics will amalgamated the remaining business of Meghmani Organics with Meghmani Finechem Limited having Chloro-Aklali and its derivatives business and to seek its sepate listing on NSE and BSE to unlock the value of shareholders. On Amalgamation of remaining business, the shareholders of Meghmani Organics will be issued 94 equity shares each of Meghmani Finechem Limited against 1000 equity shares of Meghmani Organics Limited.

The Scheme is subject to requisite statutory and regulatory approvals of Central Government, Reserve Bank of India, Singapore Stock Exchange ((SGX-ST'), National Company Law Tribunal (NCLT), Indian Stock Exchanges (NSE & BSE), SEBI and/or any other regulatory approvals and sanction by the respective Shareholders and Creditors of each of the Companies, involved in the Scheme. The Board of Directors of Meghmani Finechem and Meghmani Organics Limited have approved the Scheme. On May 3, 2021, Hon'ble National Company Law Tribunal, Ahmedabad Bench sanctioned the scheme.

On May 6, 2021, Record date for scheme of arrangement is fixed as May 19, 2021. Sukrut S Mehta of S. R. B. C. & Co. acted as accountant and Jayesh Vithlani of Vivro Financial Services Private Limited acted as due diligence provider for Meghmani Organics Limited.