Approval of Scheme of Amalgamation with Gloster Lifestyle Limited and Gloster Specialities Limited with Gloster Limited
GLOSTERLTD · price
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Gloster Limited has received the First Motion Order from the Hon'ble National Company Law Tribunal (NCLT), Kolkata Bench, dated 22nd May 2026, for the amalgamation of its two wholly-owned subsidiaries—Gloster Lifestyle Limited and Gloster Specialities Limited—into Gloster Limited. The appointed date for the amalgamation is 1st April 2025. The NCLT has dispensed with the requirement of convening equity shareholders' meetings since 100% shareholders of both transferor companies have given consent through affidavits. There are no creditors in either subsidiary company. Since both subsidiaries are wholly-owned by Gloster Limited, no new shares of Gloster Limited will be issued in exchange, and there will be no change in the shareholding pattern of the listed entity. The merger aims to enable more efficient utilization of capital and assets.
This is an internal restructuring involving wholly-owned subsidiaries merging into the parent company, with no dilution or change in shareholding. No impact on the stock price is expected from this amalgamation. It is an exempted related party transaction under SEBI regulations since it involves a wholly-owned subsidiary merger.