Godawari Power and Ispat share price rose over 2% on Wednesday, March 11 despiteSensex and Nifty ended nearly 2% lower on Wednesday after a day’s breather following a spike in crude oil prices amid growing tensions in West Asia.
Godawari Power and Ispat has received approval from the Cuttack Bench of the National Company Law Tribunal (NCLT) for the merger of its fully-owned subsidiary, Godawari Energy Limited. The tribunal issued its order on March 10, 2026, endorsing the complete Scheme of Amalgamation between the two companies.
The scheme will take effect once the certified copy of the NCLT order is submitted to the relevant Registrar of Companies. This marks the conclusion of a process that started with initial notifications to stock exchanges in August 2025.
The merger entails considerable financial factors, especially concerning the transferor company’s responsibilities. As per the NCLT ruling, Godawari Energy Limited had unsecured loans totaling ₹65,65,00,000 as of March 31, 2025, with no secured loans recorded in its accounts.
The financial framework indicates that the transferor company had allocated debentures totaling ₹69 crores exclusively to Godawari Power and Ispat. From this total, ₹2.75 crores and ₹0.60 crores were redeemed, resulting in a remaining balance of ₹65.65 crores, which will be annulled in accordance with the scheme.
(more to come)