Selan Exploration Technology Limited has informed the Exchange regarding 'Receipt of order for hearing dated March 21, 2025 passed by Hon ble NCLT Chandigarh Bench in relation to the Composite Scheme of Arrangement.'.
ANTELOPUS · price
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On the reaction day the stock moved 0.7 pts less than Nifty Microcap 250 and 0.2 pts more than its Oil peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Selan Exploration Technology Limited informed the exchanges that the NCLT Chandigarh Bench held a joint hearing on May 01, 2025 for the proposed Composite Scheme of Arrangement between Antelopus Energy Private Limited (transferor) and Selan (transferee). The Income Tax Department raised queries about certain assessment year losses of the transferor company, but the Tribunal noted no objections in the Department's report. The Income Tax Department has been given three days to file any objections, and the next hearing is scheduled for May 08, 2025. This is part of an ongoing process with prior intimations filed in August 2024, October 2024, January 2025, and April 2025.
No immediate impact on shareholders — the scheme is progressing through standard NCLT procedural hearings with no adverse findings. Investors should watch the May 08, 2025 hearing for further clarity on the merger timeline.