NCLT Ahmedabad Waives Shareholder Meetings in Renewable Energy Merger Scheme

In re Sukavala Renewable Energy Private Limited (NCLT Ahmedabad)

The National Company Law Tribunal (NCLT), Ahmedabad Bench, considered a joint application filed under Sections 230 to 232 of the Companies Act, 2013 read with Rule 3 of the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 by Sukavala Renewable Energy Private Limited, Pipartoda Renewable Energy Private Limited, Amreli Renewable Energy Private Limited, Raipar Renewable Energy Private Limited (Transferor Companies), and Ratabhe Renewable Energy Private Limited (Transferee Company) seeking directions regarding a proposed Scheme of Amalgamation. The appointed date under the Scheme was stated as 1 April 2025.

The Tribunal noted that the registered offices of all applicant companies were situated within the jurisdiction of the Registrar of Companies, Ahmedabad, Gujarat. The respective Boards of Directors approved the Scheme through resolutions dated 4 February 2026.

The application placed before the Tribunal details of the authorised, issued, subscribed and paid-up share capital of each applicant company, including equity share capital, preference share capital wherever applicable, Series A and Series B Compulsorily Convertible Debentures (CCDs), secured creditors, unsecured creditors and debenture holders. The application also recorded that all equity shareholders, secured creditors, preference shareholders (where applicable) and debenture holders had furnished consent affidavits approving the proposed Scheme and waiving their right to attend meetings. The applicant companies also disclosed the details of their unsecured creditors.