Corporate Action17 Apr 2026, 09:30 pm
MCA sanctions Composite Scheme of Arrangement for GSPL & others
AI Summary
Gujarat State Petronet Ltd (GSPL) announced the receipt of a final order from the Ministry of Corporate Affairs (MCA) sanctioning a Composite Scheme of Arrangement. This scheme involves Gujarat State Petroleum Corporation Limited (GSPC), GSPL, GSPC Energy Limited (GEL), Gujarat Gas Limited (GGL), and GSPL Transmission Limited (GTL). The approval, issued on April 8, 2026, was granted under Sections 230 to 232 of the Companies Act, 2013, marking a crucial step in the corporate restructuring of these entities.
Key Highlights
- MCA issued final order sanctioning Composite Scheme of Arrangement.
- Scheme involves Gujarat State Petronet Ltd and four other entities.
- Approval granted under Sections 230-232 of Companies Act, 2013.
- The order facilitates significant corporate restructuring for the group.