Inox Wind receives NCLT approval for composite scheme of arrangement

Inox Wind announced that the National Company Law Tribunal, Ahmedabad Bench vide its order dated 25 January 2021 has approved a Composite Scheme of Arrangement between GFL (Promoter and Holding company of the Company), Inox Renewables (Wholly owned Subsidiary of GFL) and Inox Wind Energy (the Scheme) as detailed below:

1. Amalgamation of Inox Renewables with GFL w.e.f. 01 April 2020; and

2. Demerger of Renewable Energy Business and strategic investment of GFL in Inox Wind and other assets and liabilities pertaining to the said Business into Inox Wind Energy w.e.f. 01 July 2020.

The aforesaid Scheme has become effective from 09 February 2021.

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