Mangalore Chemicals & Fertilizers Ltd. (MCFL) announced that it has received a letter from the Bombay Stock Exchange informing certain observations made by the Securities and Exchange Board of India (SEBI) regarding the company's merger with Paradeep Phosphate Ltd.

MCFL is evaluating the next steps to be taken in respect of this Letter, including considering modification(s) that may be required to be made to the Scheme to address the observations of the Securities and Exchange Board of India.

The Board of Directors of MCFL on February 7, 2024 approving the composite scheme of arrangement entered into by and amongst the Mangalore Chemicals & Fertilizers Limited, Paradeep Phosphate Limited  and their respective shareholders and creditors (Scheme) under the applicable provisions of the Companies Act, 2013.