Clean Max Enviro Energy Solutions Ltd Board Approves Amalgamation Scheme

Clean Max Enviro Energy Solutions Ltd announced that its Board of Directors has approved a composite scheme of amalgamation. The scheme involves the amalgamation of four wholly-owned subsidiaries: Clean Max Aditya Power Private Limited, Cleanmax IPP 1 Private Limited, CMES Power 1 Private Limited, and CMES Infinity Private Limited, with the parent company. The amalgamation will result in the dissolution of the subsidiaries without winding up. As these are wholly-owned subsidiaries, no new shares or cash consideration will be issued by the parent company. The scheme is subject to regulatory approvals, including sanction from the National Company Law Tribunal. The businesses of the subsidiaries are in electricity generation and sale via rooftop projects, aligning with the parent company's focus on clean energy solutions.