Merger22 May 2026, 07:21 pm
Gloster Ltd: NCLT Approves Amalgamation Scheme
AI Summary
The National Company Law Tribunal (NCLT), Kolkata Bench, has approved the Scheme of Amalgamation of Gloster Lifestyle Limited and Gloster Specialities Limited with Gloster Limited. The order, dated 22nd May 2026, allows the First Motion Application and dispenses with the need for convening meetings of the Equity Shareholders of the Applicant Companies. The amalgamation aims to improve capital and asset utilization, enhancing overall efficiency and shareholder value. No shares of Gloster Limited will be allotted in exchange for the holdings in the transferor companies, and the shareholding pattern of Gloster Limited will remain unchanged.
Key Highlights
- NCLT approves Gloster Lifestyle & Gloster Specialities merger with Gloster Ltd.
- The amalgamation aims for efficient capital utilization and future growth.
- No new Gloster Ltd shares will be issued; shareholding remains unchanged.
- Gloster's turnover for the year ended March 31, 2025, was ₹62,668.27.
- The transferor companies are wholly-owned subsidiaries of Gloster Ltd.