Selan Exploration Technology Limited has informed the Exchange regarding 'Disclosure Under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015'.
ANTELOPUS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The National Company Law Tribunal (NCLT), Chandigarh Bench, has approved the Composite Scheme of Arrangement between Antelopus Energy Private Limited (Transferor) and Selan Exploration Technology Limited (Transferee), along with their shareholders and creditors. This follows multiple prior updates since August 2024 and is a key milestone in the merger process under Sections 230-232, 66, and 52 of the Companies Act, 2013. The Tribunal's order has been uploaded on its website but contains certain factual errors. The company is taking steps to get these errors rectified before obtaining a certified true copy. Once the rectified order is received, the scheme can move toward effective implementation.
NCLT sanction is a major positive step toward completing the merger of Antelopus Energy with Selan Exploration, which could lead to a combined larger entity. However, the need to rectify errors in the petition order may cause a short delay before final implementation.