The National Company Law Tribunal (NCLT), Mumbai Bench, has approved a Scheme of Arrangement between Filmistan Private Limited and Arkade Developers Limited.
As per the filing, the order was pronounced on 16 March 2026 by a bench comprising Member (Technical) Anil Raj Chellan and Member (Judicial) K. R. Saji Kumar.
The scheme was presented under Sections 230 to 232 of the Companies Act, 2013. It provides for the demerger and transfer of a specified undertaking from Filmistan Private Limited to Arkade Developers Limited.
Under the arrangement, the rental business undertaking of Filmistan Private Limited will be transferred and vested in Arkade Developers Limited on a going concern basis. The plan aims to place certain leasehold rights and related assets under the resulting company.
The tribunal noted that integrating the leasehold rights with the entity that owns the underlying land may simplify administrative management of the property assets.
Filmistan Private Limited is engaged in activities related to the production, distribution and exhibition of cinematographic films, along with rental business operations in India.
Arkade Developers Limited operates in the real estate sector, including redevelopment projects and new residential and commercial developments.
The boards of both companies approved the scheme at their meetings held on 29 September 2025. The proposal was later examined by regulatory authorities, including the Regional Director (Western Region) and the Registrar of Companies.
According to the tribunal record, the Registrar of Companies reported that no complaints, inspections, investigations or prosecutions were pending against the companies based on available records.
The scheme carries an appointed date of 1 August 2025. However, it will take effect only after the certified copy of the tribunal’s order is filed with the Registrar of Companies.
The tribunal has directed the companies to submit the certified order along with the scheme through Form INC-28 within 30 days of receiving the order. Relevant regulatory authorities may continue to examine matters such as tax implications under applicable laws.
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As of March 17, 2026, 9:36 am, Arkade Developers Ltd share price stood at ₹102.83, 0.50% decrease from the previous closing price.
Following the tribunal’s approval, the scheme will be implemented after the required filings and procedural steps are completed.
The transfer of the rental undertaking from Filmistan Private Limited to Arkade Developers Limited will then take effect in accordance with the approved arrangement.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Mar 17, 2026, 10:13 AM IST
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