ITC Limited has announced the effective date of the amalgamation of its step-down wholly-owned subsidiaries, Blazeclan Technologies Private Limited (‘BTPL’) and Cloudlytics Technologies Private Limited (‘CTPL’), with ITC Infotech India Limited. The National Company Law Tribunal has sanctioned the scheme, making it effective from 1st September 2026. Consequently, BTPL and CTPL have been dissolved without winding up, ceasing to be subsidiaries of ITC Limited.
ITC Amalgamates Subsidiaries with ITC Infotech
ITC Limited has confirmed that the Scheme of Amalgamation involving its step-down wholly-owned subsidiaries, Blazeclan Technologies Private Limited (‘BTPL’) and Cloudlytics Technologies Private Limited (‘CTPL’), with ITC Infotech India Limited (‘ITC Infotech’), has been sanctioned by the Hon’ble National Company Law Tribunal, Kolkata and Mumbai Benches. This significant corporate restructuring is now effective from 1st September 2026.
Impact on Subsidiaries
Following the fulfillment of all stipulated conditions, the amalgamation marks a pivotal moment for the group’s information technology arm. As a direct consequence, both BTPL and CTPL have been dissolved without undergoing a winding-up process. They have also ceased to be subsidiaries of ITC Limited, streamlining the corporate structure of the group’s IT operations.
Appointed Date
The Appointed Date for this amalgamation scheme has been set as 1st October 2024.
Source: BSE
