National Company Law Tribunal (NCLT) has approved the scheme of amalgamation of JMC Projects (India) Limited with Kalpataru Power Transmission Limited (KPTL).
The combined entity will have a significant presence in India and projects in 67 countries, with offerings in well diversified areas of power transmission and distribution, buildings and factories, water, railways, oil and gas, and heavy civil infrastructure. The Board of Directors of KPTL and JMC approved the scheme of amalgamation in February 2022. Pursuant to the scheme, JMC’s shareholders (other than KPTL) will be allotted one share of KPTL for every four shares held by them in JMC.