Daily Filing Digest — 1 Sep 2026

The first trading day of September: 2,202 filings screened. With Q2 results not yet due, the day's substance sat in restructuring and scheme-of-arrangement filings rather than earnings — a NIFTY-50 demerger clearing a legal hurdle, a debt-for-equity swap priced in an unusual direction, and a regulatory question left open rather than resolved. Everything below is checked against the primary document, and where an outcome is undisclosed, we say so rather than repeat a headline.

The one to read first

• Sadbhav Engineering — eight lender banks and the company's promoter are converting debt into equity at ₹9.34 and ₹9.00 a share — both above the ₹8.03 the stock actually closed at that day. The 22.04-crore new shares are about 56% of the company's total share count once issued. A restructuring that frees the balance sheet, priced oddly, diluting existing holders by more than half: The Bank That Paid More Than the Market Would.

Deals, M&A and restructuring

• Larsen & Toubro — the NCLT admitted the scheme to demerge L&T's business into L&T Realty Properties, with the sanction hearing fixed for 6 October. A real procedural step for a NIFTY-50 name, not yet final approval.
• Sudarshan Chemical Industries — a step-down subsidiary sold its VP4 Frankfurt diketene/tolling unit to Celanese for €76.5 million, with proceeds earmarked to prepay acquisition debt — the company says this takes it to zero net debt.
• ITC Infotech — the NCLT scheme absorbing Blazeclan and Cloudlytics is now effective. India Glycols — a three-way demerger has NCLT sanction. Thyrocare — its Docon business folding into API Holdings has NCLT sanction. Go Digit — the CCI cleared its Go Digit Infoworks merger. Kfin Technologies — approved amalgamating three subsidiaries and incorporating a new Philippines step-down entity. ITC Hotels — completed its 100% acquisition of GHK Hospitality. Thomas Cook — received a "no adverse observations" letter from the BSE on its own composite scheme.

Regulatory and legal — one resolved, two left open

• Omaxe — a media report claimed "SAT dismisses Omaxe's appeal against a SEBI order." Omaxe's own exchange reply says only that SAT pronounced an order on 1 September, that the order itself has not yet been uploaded, and that the company "is presently not possible to comment on or assess the exact implications." The outcome is genuinely undisclosed — not the confirmed dismissal the headline implies.
• TruCap Finance — its open offer sits in the same kind of limbo: SEBI declined the acquirer's request to withdraw, SAT set aside SEBI's earlier observations, SEBI issued fresh observations on 20 August, and the acquirer's new appeal is listed for 7 September — with no stay on the offer proceeding meanwhile.
• Hazoor Multi Projects — NHAI withdrew its own letter of award for a toll-plaza contract just six days after issuing it, citing the shift to MLFF (barrier-free) tolling — an unusual, adverse reversal for a small contractor.
• Fortis Healthcare — the Delhi High Court, on 31 August, appointed a forensic auditor to probe the dissipation of the Singh brothers' shareholding.

Management and governance

• Ujjivan Small Finance Bank — the RBI approved Carol Furtado as interim CEO for three months. Manappuram Finance — its commercial vehicle-finance business head resigned. Kridhan Infra — a statutory auditor resignation, confirmed across three separate filings.

The adverse tail

• Kiran Print Pack — a related-party sale of its sole operating asset, representing about 29% of FY26 income, to a promoter-linked LLP for ₹8.5 crore, still awaiting shareholder approval.
• SKIL Infrastructure — a going-concern flag on a company with essentially zero revenue, kept afloat this year only by a one-off ₹160 crore capital-reduction receipt.
• Astron Paper — a further slip in its CIRP timeline. Ranjit Securities — profit after tax fell from ₹51.03 lakh to ₹6.65 lakh, with overdues rising. VCU Data Management — its auditor resigned only months into a fresh five-year term. Centenial Surgical Suture — flagged pricing pressure from oversupply in its segment.

Educational research, not investment advice. Every figure above is drawn from the named company's own primary filing dated 1-Sep-2026 and checked against the source; where an outcome is undisclosed, we say so rather than state it as fact. No buy/sell recommendations, no price targets. Moat & Margin is not a SEBI-registered Research Analyst or Investment Adviser.