Godawari Power and Ispat Limited has announced the successful completion of its amalgamation with wholly-owned subsidiary Godawari Energy Limited, with the scheme becoming effective on March 23, 2026. The company informed stock exchanges that it has received the certified copy of the National Company Law Tribunal order and completed all necessary regulatory filings.

NCLT Approval and Filing Details

The company received the certified copy of the order dated March 12, 2026, from the National Company Law Tribunal, Cuttack Bench, sanctioning the scheme of amalgamation. The filing was completed on March 23, 2026, with the Registrar of Companies in compliance with Sections 230-232 of the Companies Act, 2013.

Regulatory Corrections

The NCLT issued a corrigendum order dated March 11, 2026, to address minor typographical corrections in the original order dated March 10, 2026. The corrections included:

• Companies Act Reference: Corrected from "Companies Act, 2016" to "Companies Act, 2013" in Para 25 regarding Income Tax Department provisions
• Registrar Location: Amended from "Registrar of Companies, Cuttack, Odisha" to "Registrar of Companies, Chhattisgarh, Bilaspur" in Para 26

Previous Communications

The company had previously informed exchanges about the amalgamation process through letters dated August 05, 2025, August 30, 2025, October 16, 2025, November 18, 2025, and March 11, 2026. These communications kept stakeholders updated on the progress of the scheme under Sections 230 to 232 of the Companies Act, 2013.

Corporate Structure Impact

With the completion of this amalgamation, Godawari Energy Limited now stands fully merged with Godawari Power and Ispat Limited. The scheme was structured as a merger between the transferor company (Godawari Energy Limited) and the transferee company (Godawari Power and Ispat Limited), along with their respective shareholders.

The successful completion of this corporate restructuring represents a significant milestone in the company's organizational consolidation efforts, streamlining operations under a unified corporate structure.

Godawari Power & Ispat Limited successfully conducted its Extra-Ordinary General Meeting (EGM) on March 14, 2026, through video conferencing, securing shareholder approval for a crucial amendment to its Memorandum of Association. The meeting, which commenced at 11:30 AM and concluded at 12:00 NOON, saw participation from 37 members, including key management personnel and independent directors.

Overwhelming Shareholder Support

The special resolution to amend the Object Clause of the Memorandum of Association received exceptional support from shareholders. The voting results demonstrated strong confidence in the company's strategic direction:

Strategic Amendment Details

The approved amendment introduces a new clause 4 to the company's main objects, enabling Godawari Power & Ispat Limited to establish, maintain, and operate comprehensive transportation services. The new object clause encompasses:

• Shipping, air transport, rail transport, and road transport services
• Purchase, charter, hire, build, or acquire various transportation assets
• Ownership and operation of ships, vessels, aircraft, railway wagons, and motor vehicles
• Maintenance, repair, insurance, and leasing of transportation equipment

Business Rationale and Implementation

The company's decision to amend its MOA stems from its strategic plan to purchase wagons under the General-Purpose Wagon Investment Scheme (GPWIS) for captive use. This initiative aligns with the development of the company's own railway siding at its proposed new Integrated Steel Plant. The amendment provides flexibility to optimize wagon utilization during idle periods by offering transportation services to third parties.

According to the explanatory statement, the company clarified that it does not intend to engage in full-fledged logistics operations as an independent business line. Instead, the amendment serves the limited purpose of ensuring efficient utilization of wagons during idle periods, return journeys, or one-way movements.

Meeting Proceedings and Governance

The EGM was conducted in full compliance with the Companies Act, 2013, SEBI regulations, and MCA circulars. Key attendees included:

The company provided both remote e-voting facilities (from March 11, 2026, 9:00 AM to March 13, 2026, 5:00 PM) and e-voting during the meeting through NSDL's platform. CS Brajesh R. Agrawal served as the appointed scrutinizer, ensuring transparent and fair voting processes.

Regulatory Compliance and Next Steps

The Board of Directors, in their meeting held on February 6, 2026, had recommended this amendment to shareholders. With the special resolution now passed, Company Secretary CS Yarra Chandra Rao has been authorized to complete all necessary formalities, including filing required e-forms with the Registrar of Companies and Ministry of Corporate Affairs.

The amendment represents a strategic move to enhance operational efficiency and asset utilization while maintaining the company's core focus on power and steel operations. This development positions Godawari Power & Ispat Limited to better serve its logistics requirements while creating potential additional revenue streams through optimized asset utilization.