Godawari Power and Ispat Limited (GPIL) announced that the Scheme of Amalgamation involving its wholly-owned subsidiary, Godawari Energy Limited (GEL), has become effective as of March 23, 2026. The National Company Law Tribunal (NCLT), Cuttack Bench, sanctioned the scheme via an order dated March 12, 2026. The Appointed Date for this amalgamation is set as April 1, 2025, completing the integration of the transferor company.
Amalgamation Scheme Declared Effective
Godawari Power and Ispat Limited (GPIL) has formally communicated the successful conclusion of its proposed Scheme of Amalgamation with its wholly-owned subsidiary, Godawari Energy Limited (“GEL”), which acts as the “Transferor Company.”
The necessary approvals have culminated in the scheme becoming effective on March 23, 2026. This follows the receipt of the Certified Copy of the Order sanctioning the scheme from the Hon’ble National Company Law Tribunal (NCLT), Cuttack Bench, dated March 12, 2026. The official filing with the Registrar of Companies occurred on the same day, March 23, 2026.
Key Dates Confirmed
- Effective Date: March 23, 2026 (The date the Scheme legally takes effect).
- Appointed Date: April 1, 2025 (The retrospective date from which the transfer is accounted for).
The company confirms that this action formalizes the amalgamation of GEL with GPIL under Sections 230 to 232 of the Companies Act, 2013.
Correction to Tribunal Order Noted
The filing also included a Corrigendum Order issued by the Hon’ble NCLT on March 11, 2026, rectifying minor, non-material typographical errors present in the original NCLT Order dated March 10, 2026.
Clarification on Tax Department Rights (Para 25)
The corrigendum specifically addressed language in Paragraph 25 of the main order. It clarifies that the sanctioning of the scheme does not adversely affect the rights of the Income Tax Department. The Department remains free to examine tax payable, and if the amalgamation results in tax avoidance or non-compliance with the Income Tax Act, 1961, the Department retains the liberty to initiate appropriate legal action.
Clarification on Filing Requirements (Para 26(f))
Paragraph 26, clause (f), was also corrected concerning the jurisdiction for filing the order copy. The original instruction directed filing with the Registrar of Companies, Cuttack, Odisha. The corrected clause directs the Petitioner Company to file the required documents (Order copy, Scheme copy, and e-form INC-28) with the Registrar of Companies, Chhattisgarh, Bilaspur, within 30 days of the order issuance.
The remainder of the main order dated 10.03.2026 remains in full force and effect.
Source: BSE
