Advertisement
Advertisement
Skip to content
Follow Us on
Advertisement
TOP STORIES
Company Law

NCLT Allows Enertech-IRM Energy Amalgamation Scheme Under Sections 230-232

Case Law Details

TaxGuru Citation
2026 taxguru.in 10446
Case Name
In re Enertech Distribution Management Private Limited (NCLT Ahmedabad)
Date of Judgement/Order
Only available for paid members
Courts
NCLT
Advertisement

In re Enertech Distribution Management Private Limited (NCLT Ahmedabad)

The NCLT Ahmedabad Bench allowed joint Company Application CA(CAA)/31(AHM)/2026 filed by Enertech Distribution Management Pvt. Ltd. (Transferor Company) and IRM Energy Ltd. (Transferee Company) under Sections 230 to 232 of the Companies Act, 2013 read with the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. The proposed Scheme provides for amalgamation of Enertech with IRM Energy and issue of shares by IRM Energy, with effect from the Appointed Date specified in the Scheme and upon the Effective Date.

Enertech, incorporated in 2016, held 21.12% of IRM Energy’s total equity share capital. As on 31.05.2026, Enertech had five equity shareholders, all of whom had provided consent affidavits approving the Scheme. It had no secured creditors and one unsecured creditor with an outstanding amount of Rs.11,800/-, whose consent was also furnished. The audited accounts showed that Enertech had no operations during FY 2025-26 and that almost its entire equity share capital of Rs.10.39 crore was invested in IRM Energy’s equity share capital.

IRM Energy’s equity shares are listed on NSE and BSE. As on 19.06.2026, it had 77,431 equity shareholders. As on 31.05.2026, it had three secured creditors with aggregate outstanding secured debt of Rs.159.95 crore; secured creditors representing 95.33% of the total outstanding secured debt had furnished consent affidavits approving the Scheme. It also had 247 unsecured creditors with outstanding unsecured debt of Rs.2,81,36,00,000.

Paid content

Become a Premium Member, or log in if you are already a Premium member.

Advertisement

Author Info

CA Sandeep Kanoi
Qualification: CA in Job / Business
Company: Taxguru Consultancy
Location: Mumbai, Maharashtra
Articles Published: 20,910

Join TaxGuru's Network for the latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.