Receipt of order passed by Hon''ble National Company Law Tribunal
Awaiting price reaction for this filing.
The NCLT Chandigarh Bench has passed an order directing Cigniti Technologies to convene meetings of its equity shareholders and unsecured creditors to consider the proposed amalgamation with Coforge Limited. The Tribunal dispensed with the meeting of secured creditors since Cigniti has none. BSE and NSE had already issued no-objection letters to the scheme in July 2025, and the appointed date for the merger is April 1, 2025. A former NCLT member has been appointed as Chairperson and an advocate as Scrutinizer to oversee the meetings. After the voting, the companies will file a Second Motion petition seeking the Tribunal's final approval.
This is a routine but important procedural step moving the Cigniti-Coforge merger forward. If shareholders and creditors approve the scheme and the NCLT gives final sanction, Cigniti will be absorbed into Coforge, creating a larger combined IT services entity. Shareholders should watch for the upcoming meeting notices, as their vote is required for the merger to proceed.