Ambuja Cements has received board approval for the merger of its subsidiaries, Sanghi Industries Ltd and Penna Cement Industries Ltd, into the parent company. This decision is part of the Adani Group's strategy to consolidate operations. The merger is contingent upon obtaining necessary statutory and regulatory approvals, including the approval from the National Company Law Tribunal (NCLT). The announcement follows the introduction of separate schemes of arrangement for both subsidiaries, indicating a structured approach to the amalgamation process.
अदाणी समूह ने पेन्ना सीमेंट और सांघी इंडस्ट्रीज का अंबुजा सीमेंट के साथ मर्जर को दी मंजूरी #AdaniGroup https://t.co/Xcick0jvA3
#Ambuja Cements | Adani Group firm announced the amalgamation of its subsidiaries, Sanghi Industries Ltd (SIL) and Penna Cement Industries Ltd (PCIL), with the parent company. The announcement follows the introduction of separate schemes of arrangement for both subsidiaries,…
Ambuja Cements: Board approves merger between Sanghi Industries, Penna Industries and itself. Merger is subject to necessary statutory and regulatory approvals, including that of NCLT.