GE Power India has achieved a significant milestone in its corporate restructuring journey by receiving formal observation letters from both major Indian stock exchanges for its proposed demerger with JSW Energy Limited. The company obtained 'No Adverse Observations' from BSE and 'No Objection' from NSE on April 01, 2026.

Regulatory Observation Letters

The company has successfully secured the required regulatory responses from both exchanges under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. These observation letters represent critical regulatory clearances for the proposed Scheme of Arrangement under Sections 230 to 232 of the Companies Act, 2013.

Compliance Requirements and Conditions

Both exchanges have outlined comprehensive compliance requirements that must be fulfilled before proceeding with the demerger. Key conditions include disclosure of all ongoing legal proceedings against the companies, their promoters and directors, ensuring financial statements are not older than six months, and providing detailed valuation reports with justifications for growth rates considered.

The companies must also disclose revenue, profit after tax, and EBITDA details for the last three years, along with audited financials for all entities involved in the scheme. Additionally, they need to obtain No Objection Certificates from lending banks and financial institutions.

Next Steps and Timeline

The observation letters carry a validity period of six months from April 01, 2026, within which the scheme must be submitted to the National Company Law Tribunal (NCLT). The companies are required to disclose these observation letters on their websites within 24 hours of receipt and ensure compliance with all specified conditions before filing the petition with NCLT.

Market Implications

The receipt of these observation letters demonstrates that the demerger proposal has successfully navigated the initial regulatory review process. Both exchanges have reserved their rights to withdraw observations if any information is found incomplete, incorrect, or misleading. The scheme remains subject to receipt of other applicable regulatory approvals and NCLT sanction for final implementation.

GE Power India Limited has announced updated contact details for its Key Managerial Personnel (KMPs) authorized to determine materiality of events or information under SEBI regulations. The changes will be effective from April 3, 2026, and have been communicated to both NSE and BSE in compliance with regulatory requirements.

Updated Key Personnel Details

The company has provided revised contact information for two key executives who are authorized for determining materiality of events and making disclosures to stock exchanges under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance

The notification has been made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with the company's Policy for Determination of Materiality of Event or Information. Both executives will operate from the company's corporate office located at Axis House, Plot No 1-14, Towers 5&6, Jaypee Wish Town, Sector 128, Noida, Uttar Pradesh-201301.

Company Information

GE Power India Limited operates under CIN L74140MH1992PLC068379 and maintains its registered office at Regus Magnum Business Centers in Mumbai. The company secretary and compliance officer, Ms. Kamna Tiwari, has signed the regulatory filing dated March 23, 2026. The updated contact details ensure continued compliance with disclosure requirements and facilitate effective communication with regulatory authorities and investors.