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Informist, Monday, Mar. 23, 2026

 

--NCLT approves Kandla Energy's merger with parent co Deep Industries

 

NEW DELHI – The Ahmedabad bench of the National Company Law Tribunal Monday approved the merger of Kandla Energy & Chemicals Ltd. with its parent company Deep Industries Ltd. The bench of judicial member Chitra Ram Hankare and technical member Velamur Govindan Venkata Chalapathy "allowed" the petition for approval of a scheme of amalgamation filed by the companies.

 

Kandla Energy manufactures chemicals and hydrocarbons fluids, which are used by Deep Industries in its integrated services and production enhancement services. By consolidating Kandla Energy, the merger establishes backward integration enabling Deep Industries to source the chemicals and hydrocarbons fluids in-house thereby ensuring cost-efficiency, supply security, and improved operating margins over the long run, according to the scheme of amalgamation.

 

The merger would eliminate the holding-subsidiary structure, reducing administrative redundancies and compliance costs associated with maintaining separate legal entities. The merger would help to consolidate the complementing strengths and will enable the amalgamated company to have increased capability for offering diversified products and services on a single platform, according to the merger scheme.

 

Under the scheme of amalgamation, Deep Industries will not issue any shares nor will it pay any consideration for the shareholding of Kandla Energy. There will be no change in the shareholding pattern of Deep Industries pursuant to the merger as no shares would be issued by it, according to the scheme.

 

Kandla Energy is also involved in making petroleum products, trading, distribution and generation of energy and electrical power. Deep Industries is in the business of oil and gas support services. 

 

At 1402 IST, shares of Deep Industries were down 4.6% at INR 390.85 on the National Stock Exchange.  End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by Surya Tripathi

Edited by Ashish Shirke

 

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