US EditionNCLT approves merger of Adani Cementation with Ambuja Cements
- The National Company Law Tribunal approved the merger of Adani Cementation with Ambuja Cements on July 18, which will consolidate Adani Group's cement business under one unit.
- The effective date of the amalgamation is April 1, 2024, as per the NCLT order dated July 18.
- Adani Enterprises will receive 8.7 million shares of Ambuja Cements through a share-swapping process.
- Adani Group aims for enhanced value and improved resource utilization post-merger, benefiting their manufacturing capacity.
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Bombay HC requests GST Council, GSTN to enable cross-State ITC transfers in mergers - India Seatrade News
Bombay High Court has urged the GST Council and the GST Network (GSTN) to provide for a regular mechanism for transfer of unutilised Input Tax Credit (ITC) from the electronic credit ledger of a transferor Company to a transferee Company located in another state after merger or amalgamation. “We permit the IGST (Integrated Goods & Services Tax) and CGST (Central Goods & Services Tax) amount lying in the electronic credit ledger of the Transferor…
NCLT Clears Adani Cementation-Ambuja Merger, Adani To Consolidate Cement Business Under One Roof
NCLT has approved the merger of Adani Cementation with Ambuja Cements, enabling operational synergy, better resource utilisation, and expansion. The move strengthens Adani’s position as India’s second-largest cement producer.
NCLT Approves Adani Cementation-Ambuja Cements Merger I Economy India
Merger strengthens Adani Group’s consolidation strategy in cement business New Delhi (Economy India): The National Company Law Tribunal (NCLT) has officially approved the merger of Adani Cementation with Ambuja Cements Ltd, marking a strategic milestone in the Adani Group’s efforts to consolidate and streamline its cement business.The tribunal’s decision facilitates a crucial structural alignment within the Adani Group, allowing it to operate a …
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