The National Company Law Tribunal (NCLT), Bengaluru Bench, has given its approval for a significant corporate restructuring within the promoter group of Sandur Manganese & Iron Ores Limited . This development marks a strategic move in the company's corporate structure, potentially streamlining operations within its promoter group.

Key Details of the Amalgamation

The NCLT has approved a scheme of amalgamation under Section 232 of the Companies Act, 2013, involving four companies within the promoter group of Sandur Manganese & Iron Ores Limited. The details of this amalgamation are as follows:

Implications of the Amalgamation

The approved scheme will result in the consolidation of shareholdings from the transferor companies into the transferee company, Lohagiri Industrials Private Limited. It's important to note that this restructuring will not alter the overall shareholding of the promoter group in Sandur Manganese & Iron Ores Limited.

Regulatory Compliance

In adherence to regulatory requirements, Sandur Manganese & Iron Ores Limited has duly informed the stock exchanges about this development. The company has complied with Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency in its corporate actions.

This amalgamation scheme, while primarily affecting the internal structure of the promoter group, represents a significant corporate action for Sandur Manganese & Iron Ores Limited. Shareholders and market participants will likely be keen to observe any potential operational or strategic benefits that may arise from this restructuring.

Sandur Manganese & Iron Ores Limited (SMIORE) has received a significant boost to its operations with the approval to expand its manganese and iron ore mining activities. The Karnataka State Pollution Control Board (KSPCB) has granted the company Consent for Operation - Expansion (CFO-Expand) for its existing mineral extraction facilities.

Expansion Details

The expansion approval covers two key mining leases:

1. Mining Lease No. 2678:

   • Approval for a Downhill Pipe Conveyor System of 1.2 Km length from Kammathuru Iron Ore Mine to PMBR railway siding.

2. Mining Lease No. 2679:

   • Increase in iron ore mining capacity
   • Enhancement of manganese ore mining capacity

Capacity Expansion

The approved expansion allows for a significant increase in SMIORE's mining capacities:

MTPA: Million Tonnes Per Annum

Regulatory Compliance

The expansion approval was granted after KSPCB examined SMIORE's application under The Water (Prevention & Control of Pollution) Act, 1974 and The Air (Prevention & Control of Pollution) Act, 1981. This underscores the company's commitment to environmental regulations while pursuing growth.

Next Steps

Before commencing operations at the newly approved levels, SMIORE will present all statutory approvals to:

1. The Monitoring Committee constituted by the Hon'ble Supreme Court
2. Department of Mines and Geology

This expansion approval marks a significant milestone for Sandur Manganese & Iron Ores Limited, potentially enhancing its production capabilities and market position in the mining sector.