CERTIFIED COPY OF ORDER OF NCLT ALONG WITH CERTIFIED COPY OF SCHEME AND PETITION
Awaiting price reaction for this filing.
Citizen Infoline Ltd (BSE: 538786) has received the certified copy of the NCLT order dated 19 March 2026 from the Ahmedabad Bench (Court-II) sanctioning the scheme of amalgamation of Citizen Solar Private Limited (Transferor) into Citizen Infoline Limited (Transferee). The appointed date for the merger is 1 April 2023, and the scheme will become effective once the certified order is filed with the Registrar of Companies, which the company has been directed to do within 30 days. Under the scheme, all assets, liabilities, employees, contracts, and obligations of Citizen Solar will vest in Citizen Infoline without any further act, and Citizen Solar will stand dissolved without winding up. Shareholders of Citizen Solar will receive shares of Citizen Infoline as per the swap ratio defined in the scheme. Income Tax Department, Regional Director, Official Liquidator, and BSE have all given their no-objection to the merger.
This is a positive structural development for shareholders, as the listed entity is absorbing its group company Citizen Solar's solar energy business, consolidating operations and potentially expanding its revenue base. The merger is now in its final leg — investors should watch for the effective date filing with the RoC, share allotment to Citizen Solar shareholders, and the resulting change in capital structure of Citizen Infoline.