Karma Energy hits 5% upper circuit after NCLT Mumbai approves Scheme of Amalgamation

The scheme was for the merger of a wholly-owned subsidiary, Greenweiz Projects Limited with the company.

Jul 16, 2021 03:07 IST India Infoline News Service

Karma Energy Limited informed the exchanges Thursday that the Scheme of Amalgamation of its Wholly Owned Subsidiary with the Company has been approved by the National Company Law Tribunal (NCLT), Mumbai Bench.

The company on October 18, 2019, has informed about the scheme of amalgamation for the merger of wholly-owned subsidiary, Greenweiz Projects Limited (Transferor Company) with Karma Energy Limited (Transferee Company).

The company's stock trade on Friday ended at upper brand price of Rs19.40  per piece up 5%. 

Related Story

Open Free Demat Account (Rs699)