GMR Infrastructure gets NCLT nod for demerger of non-airport business

GMR Infrastructure has received the National Company Law Tribunal's (NCLT) approval for the demerger of the non-airport business of the company, it announced on December 23.

"The NCLT, Mumbai Bench (“Tribunal”) has sanctioned the Composite Scheme of Arrangement amongst GMR Power Infra Limited (GPIL), GMR Infrastructure Limited (GIL) and GMR Power and Urban Infra Limited (GPUIL) and their respective shareholders (“Scheme”) under Sections 230 to 232 of the Companies Act, 2013," it said in a statement.

The sanction was pronounced on 22 December 2021, the statement added.

GMR had filed a composite scheme of amalgamation and demerger among GMR Power Infra and GMR Power and Urban Infra with the NCLT in March this year.

At 11.54, GMR Infrastructure is trading at Rs 42.95. The stock is up 0.23 percent or Rs 0.10.

(This is a developing story. Please check back for more details)