Jindal Stainless update on merger with Jindal Stainless (Hisar)

The ongoing merger process of Jindal Stainless (JSL) and Jindal Stainless (Hisar) (JSHL) achieved another milestone. As per regulatory requirement, the Companies convened meetings of their shareholders and creditors for approving the Scheme of Arrangement between the two Companies. The Scheme was approved by an overwhelming majority.

The meetings to approve the Scheme of Arrangement were organised on 23 April 2022, pursuant to the order pronounced by the Hon'ble National Company Law Tribunal (NCLT), Chandigarh Bench. The Companies will now file the second motion application with the Hon'ble NCLT.

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