Citizen Infoline Ltd. Receives NCLT Approval for Amalgamation of Citizen Solar Private Limited

Citizen Infoline Ltd. Receives NCLT Approval for Amalgamation of Citizen Solar Private Limited​

Citizen Infoline Ltd. (BSE: 538786) announced that the National Company Law Tribunal (NCLT), Ahmedabad Bench (Court-II), has approved and sanctioned the Scheme of Amalgamation of Citizen Solar Private Limited (Transferor Company) with Citizen Infoline Limited (Transferee Company) under Sections 230 to 232 of the Companies Act, 2013.

The NCLT order was delivered on March 19, 2026. The appointed date for the amalgamation is April 1, 2023, while the effective date will be the date of filing a certified copy of the order with the Registrar of Companies (RoC).

Key details of the Scheme include:

• Transfer of all assets, liabilities, rights, and obligations from Citizen Solar Private Limited to Citizen Infoline Limited.
• Transfer of employees without a break in service.
• Citizen Solar Private Limited will stand dissolved without winding up.

Citizen Infoline confirms that it has complied with the observation letter issued by the stock exchanges dated May 12, 2025, and applicable provisions of SEBI Circulars.

The company will now file the certified copy of the order with the RoC within the prescribed timeline and undertake necessary corporate actions, including applying for listing and trading approval.

This amalgamation is being disclosed as a material event in terms of Regulation 30 read with Schedule III of the SEBI (LODR) Regulations, 2015.

Documents related to the NCLT order and the approved Scheme of Amalgamation have been filed.

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