NCLT Approves Asian Energy Services Oilmax Energy Merger

NCLT Mumbai Bench issues order for a merger by absorption of Oilmax Energy Private Limited into listed entity Asian Energy Services Limited.
The scheme proposes a share exchange ratio of 117 Asian Energy shares for every 10 Oilmax shares held by shareholders.
The rationale includes operational synergies, cost reduction, and creating a leading energy and mineral company with a diversified asset portfolio.
The tribunal directs convening equity shareholder meetings and serving notices to regulatory authorities for the scheme's approval.