A copy of NCLT Reserved Order is attached herewith.
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Awaiting price reaction for this filing.
Jhaveri Credits & Capital Ltd has shared a copy of the NCLT Ahmedabad order related to its proposed amalgamation with U R Energy (India) Private Limited under Sections 230-232 of the Companies Act, 2013. The Tribunal heard the matter, including a reply filed by the company to the Income Tax Department's report on the Transferee Company, and has reserved its order. The reserved order means the bench has finished hearing arguments and will pronounce its final ruling later. No approval or rejection has been communicated yet — this is a procedural update in an ongoing merger approval process.
Neutral in the short term. The amalgamation is still pending the NCLT's final pronouncement, so the stock is unlikely to move sharply on this disclosure alone. Shareholders should watch for the next update when the reserved order is actually delivered, as that will determine whether the merger is approved.