Shareholders and creditors approve merger of Jindal Stainless Ltd and Jindal Stainless Hisar Ltd

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The ongoing merger process of Jindal Stainless Limited (JSL) and Jindal Stainless (Hisar) Limited (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 April 23, 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.