Shree Cement Limited (SCL) has announced the receipt of the certified copy of the order from the Hon’ble National Company Law Tribunal (NCLT), Kolkata Bench, sanctioning the Scheme of Amalgamation between Shree Cement North Private Limited (Transferor Company) and Shree Cement East Private Limited (Transferee Company), both wholly-owned subsidiaries of Shree Cement Limited. This amalgamation is under Sections 230 to 232 of the Companies Act, 2013.
The order was sanctioned by NCLT on 13th September 2024, and the certified copy was issued on 7th October 2024. The amalgamation is effective from the appointed date, April 1, 2024, and will result in enhanced operational synergies, pooling of resources, and more efficient operations between the Transferor and Transferee companies.
Key details of the amalgamation:
- The Transferee Company, Shree Cement East, has set up a 3.0 MTPA Cement Grinding Unit in Purulia, West Bengal.
- The Transferor Company, Shree Cement North, is setting up a Cement Grinding Unit in Etah, Uttar Pradesh.
This amalgamation aims to streamline operations, reduce costs, and maximize the combined resources of both entities. The certified copy of the NCLT order has been enclosed as ‘Annexure A’ in the company’s official filing.
