Birla Cable merger with Vindhya Telelinks clears stock exchange nod
Birla Cable (transferor) is merging into Vindhya Telelinks (transferee) via a scheme under ss.230–232 of the Companies Act, 2013. NSE and BSE have issued formal observation letters-NSE with a no-objection position, BSE with no adverse remarks-clearing stock exchange regulatory gates. The scheme now moves toward NCLT filing for sanction and subsequent shareholder-creditor voting under s.230.
Why it mattersStock exchange approval is a critical gating item in s.230–232 amalgamations; receipt of NOCs signals imminent NCLT filing and heightens likelihood of shareholder-creditor voting and court confirmation.
Counsel—
SectorIndustrials
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Sources
- NSE (National Stock Exchange of India Limited) – Corporate Actions Archive · official
- BSE Limited – Corporate Announcements · official
- MCA ROC Portal (Ministry of Corporate Affairs) · official
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