Triveni Engineering's restructuring plan approved by NCLT

The National Company Law Tribunal, Allahabad Bench, has approved a composite scheme of arrangement for Triveni Engineering & Industries Limited ("TEIL"), Sir Shadi Lal Enterprises Limited ("SSEL"), and Triveni Power Transmission Limited ("TPTL"). The order, dated December 16, 2025, sanctions the amalgamation of SSEL into TEIL and the demerger of the power transmission business undertaking from TEIL into TPTL.

The tribunal's approval allows for the implementation of the comprehensive restructuring plan, which impacts the shareholders and creditors of all three companies. The initial first motion order on October 17, 2025, had dispensed with meetings for equity shareholders, secured and unsecured creditors of applicant no. 3/resulting company, while directing meetings for applicant nos. 1 & 2.

Reports from these directed meetings, submitted on December 2 and December 10, 2025, paved the way for this final approval. The order necessitates further notices to regulatory authorities and public advertisement in "Financial Express" (English) and "Jansatta" (Hindi) newspapers, with a follow-up hearing scheduled for February 5, 2026.