MCA approves Gujarat Gas, subsidiaries' amalgamation scheme

The Ministry of Corporate Affairs (MCA) has issued an order dated September 10, 2025, in relation to the composite scheme of arrangement and amalgamation involving Gujarat State Petroleum Corporation Limited, Gujarat State Petronet Limited, GSPC Energy Limited, Gujarat Gas Limited, and GSPL Transmission Limited. The order dispenses with the requirement to convene meetings of equity shareholders for GSPC Energy Limited and GSPL Transmission Limited.

However, the MCA has directed meetings of equity shareholders for Gujarat State Petronet Limited and Gujarat Gas Limited, both listed entities, to be held via VC/OAVM mode. The meeting for Gujarat State Petroleum Corporation Limited will be held either physically or through VC/OAVM. The cut-off date for sending notice to equity shareholders is August 1, 2025, with notices to be sent at least 30 days prior to the meeting.

The scheme also dispenses with meetings for unsecured creditors of all applicant companies, noting no changes to their rights or remedies are proposed. However, individual notices will be sent to unsecured creditors with claims exceeding INR 1,000,000.