Kalpataru Withdraws Project Magnus Demerger Plan

Kalpataru Ltd has withdrawn its plan to demerge Project Magnus, located in Bandra (East), Mumbai, from its subsidiary Kalpataru Properties Ltd. The National Company Law Tribunal (NCLT) Mumbai Bench Court III approved the withdrawal on July 8, 2026.

The demerger scheme aimed to transfer Project Magnus to the parent company on a going concern basis, with an appointed date of April 1, 2024. However, Kalpataru's Executive Committee of the Board of Directors had previously approved the withdrawal of this scheme on June 2, 2026.

Kalpataru Properties Ltd is a step-down wholly owned subsidiary of Kalpataru Ltd. The company received the NCLT order at 12:20 p.m. on July 8, 2026, permitting the withdrawal of the scheme.

The withdrawal of the demerger plan means that Project Magnus will no longer be transferred to the parent company. The decision is based on the company's evaluation of its business strategy and goals.

The NCLT's approval of the withdrawal is a significant development for Kalpataru Ltd and its subsidiary. The company will continue to operate and manage Project Magnus as part of its business portfolio.

The withdrawal of the demerger plan is subject to the terms and conditions of the NCLT order. Kalpataru Ltd will comply with all regulatory requirements and disclose relevant information to its stakeholders.