GAIL (India) Limited has increased its shareholding in Konkan LNG Limited to 100% following the implementation of a scheme for the reduction of equity share capital. This development follows the National Company Law Tribunal (NCLT) order dated June 3, 2026, which approved the capital reduction plan. The move effectively consolidates GAIL's ownership by eliminating the stake held by the other shareholder, MSEB Holding Company Limited.

Pursuant to the NCLT order, Konkan LNG remitted the consideration to the shareholders on July 6, 2026. As a result of this payment, an aggregate of 14,81,10,440 equity shares of ₹10 each were cancelled and extinguished. This included 7,40,55,220 equity shares held by GAIL and an equal number of shares held by MSEB Holding Company Limited.

The cancellation of shares has resulted in MSEB Holding Company Limited's holding in Konkan LNG reducing to nil. Consequently, GAIL's shareholding has increased to 100% of the equity share capital of Konkan LNG Limited. The disclosure was made to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Shareholding Details

The following table outlines the share cancellation details:

GAIL (India) Limited appointed Shri Satish Kumar Sinha as Director (Finance) and Chief Financial Officer (CFO) effective July 1, 2026. He succeeds Shri R K Jain, who ceased to be a director upon his superannuation on June 30, 2026. Sinha brings over three decades of experience in the oil and gas sector to the role.

Prior to joining the Board of Directors, Sinha served as Executive Director (Finance & Accounts). He joined GAIL (India) Limited in 1994 as a Management Trainee (Finance & Accounts) and has held several key positions across core finance functions. He has also served on the Boards of GAIL Global Singapore Pte Limited and GAIL Mangalore Petrochemicals Limited.

Sinha is a qualified Cost and Management Accountant with extensive expertise in Corporate Finance, Corporate Accounts, Management Accounting, Investor Relations, Taxation, Treasury & Banking Operations, Costing, Budgeting, Project Evaluation, and Mergers & Acquisitions. He has played a pivotal role in strengthening GAIL's financial systems, enhancing investor engagement, and driving strategic financial decision-making.

Throughout his career, Sinha has contributed significantly to value creation through governance, compliance, and cost optimization initiatives, large-scale investment appraisals, and effective treasury management. He has been instrumental in driving digital transformation initiatives in finance, including SAP implementation, automation, and centralized financial processes.

The company confirmed that Sinha does not have any inter-se relation with other directors and is not debarred from holding the office of Director by any statutory authority, in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.