Gateway Distriparks (GDL) had announced an amalgamation scheme between GDL and its subsidiaries Gateway Rail Freight and Gateway East India in September 2020.
Now, both NSE and BSE have conveyed their No-objection on 12 March, 2021 enabling the Company to go ahead with filing of the draft scheme with the National Company Law Tribunal (NCLT).
The Company, Gateway Rail Freight and Gateway East India have filed the Joint Company Application in relation to the Scheme with NCLT on 14 March, 2021 to begin the next step of the process.
The merged entity will have 4 rail-linked inland container depots for EXIM business, a domestic rail terminal in Navi Mumbai, 6 container freight stations spread across the country, and a combined fleet strength of 31 train sets and over 500 road trailers. In addition, the combined cash flows will enable the merged entity to accelerate debt reduction while at the same time allowing it to continue upon its expansion plans to build a wider network of rail
On 08 March 2021The Board of R Systems International at its meeting scheduled to be held on 08 March 2021 will transact the following business -
(1) To take note of the National Company Law Tribunal, New Delhi (NCLT) order dated
01 February 2021 approving the scheme of Amalgamation of RightMatch Holdings
and R Systems International and their respective shareholders and
creditors.
(2)To approve the allotment of shares of the Company pursuant to the said scheme of
Amalgamation.
(3)To approve the cancellation & extinguishment of shares of the Company pursuant to the
said scheme of Amalgamation.
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Chambal Fertilisers & Chemicals receives NCLT approval for dissolution of subsidiary business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
The government has again extended the tenure of Justice B L Bhat as the officiating Chairperson of the National Company Law Appellate Tribunal (NCLAT). According to a notification issued by the Ministry of Corporate Affairs, Justice Bhat s tenure has been extended further till his attaining the age of 67 years or till further orders, whichever is earlier. As per the information available on NCLAT website, Justice Bhat s date of birth is April 19, 1954, which means his tenure could be for over three months. Bhat s tenure as officiating Chairperson of NCLAT was scheduled to end on December 31, 2020. This is the fourth extension for Justice Bhat since he was appointed as the officiating Chairperson of the NCLAT on March 15, 2020 for three months.
Jalpower Corporation (JPCL) was executing 120-mw Rangit Stage-IV Hydroelectric Project in Sikkim.
JPCL is currently undergoing Corporate Insolvency Resolution Process which was initiated on 9 April 2019 vide an order of NCLT and Sanjay Kumar Deewani was appointed as Interim Resolution Professional (IRP).
In its resolution proposal (RP), NHPC had proposed a resolution amount of Rs 165 crore as full and final settlement for all stake holders including financial, operational and other creditors.
NHPC s RP was found to be feasible and viable and the company was declared as the successful resolution applicant by Committee of Creditors (CoC) on 24 January 2020.
Earlier, NHPC had successfully acquired Lanco Teesta Hydro Power through the NCLT process.