GAIL (India) Limited announces the Hon’ble National Company Law Tribunal (NCLT) has sanctioned the Scheme for Reduction of Equity Share Capital for its subsidiary, Konkan LNG Limited (KLL). The scheme involves the cancellation of 14,81,10,440 equity shares. Following this, GAIL’s shareholding in KLL will increase to 100%, while MSEB’s shareholding will be reduced to nil. The certified true copy of the order was received on June 10, 2026.
NCLT Approves Equity Reduction for Konkan LNG
GAIL (India) Limited (GAIL) has informed stakeholders that the Hon’ble National Company Law Tribunal (NCLT) has approved a significant Scheme for Reduction of Equity Share Capital for its subsidiary, Konkan LNG Limited (KLL). This development, confirmed with the receipt of the certified true copy on June 10, 2026, marks a crucial step in restructuring KLL’s equity.
Scheme Details and Shareholding Impact
The approved scheme involves the cancellation and extinguishment of an aggregate of 14,81,10,440 equity shares. These shares constitute a portion of KLL’s issued, subscribed, and paid-up equity share capital. Prior to this reduction, GAIL held 7,40,55,220 equity shares of Rs.10 each, alongside MSEB Holding Company Limited (MSEB).
Consequent to the implementation of this scheme, the shareholding of MSEB in KLL will be reduced to Nil. GAIL’s shareholding in Konkan LNG Limited will consequently be increased to 100% of the total equity share capital.
The NCLT had sanctioned the scheme via its order dated June 3, 2026.
Source: BSE
