Intimation under Regulation 30 of SEBI LODR - Admission of Scheme of Amalgamation by Hon''ble NCLT, Ahmedabad Bench
Awaiting price reaction for this filing.
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has admitted the application for amalgamation of Citizen Solar Private Limited (Transferor) into Citizen Infoline Limited (Transferee) under Sections 230-232 of the Companies Act, 2013. The order, dated 21 July 2025, dispensed with meetings of the Transferor Company's shareholders and creditors based on consent affidavits already submitted. Citizen Infoline has been directed to convene a meeting of its equity shareholders within 45 days via video conferencing to seek their approval. The company clarified that this is only the admission stage and not the final sanction of the scheme.
This is an early procedural step in the merger process and does not yet change the company's structure. Shareholders of Citizen Infoline will get to vote on the scheme within the next 45 days; if approved, Citizen Solar's assets and liabilities will be absorbed into the listed entity, which could have implications for earnings and balance sheet size.