The National Company Law Tribunal (NCLT), Ahmedabad Bench, has approved the merger of Penna Cement Industries Limited with Ambuja Cements Limited, paving the way for the full integration of Penna Cement into the Ambuja group.
The merger entails the integration of Penna Cement Industries Limited into Ambuja Cements Limited, with Penna Cement acting as the transferor entity and Ambuja as the transferee. Since Ambuja Cements had already acquired 99.94% of Penna Cement's paid‑up equity share capital, the amalgamation represents a logical consolidation step to streamline ownership and operations.
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