NCLT Ahmedabad sanctioned the demerger of Inox Green Energy's Power Evacuation Business into Inox Renewable Solutions effective 01 October 2024.
Shareholders approved the scheme with 99.99% votes in favor; creditors unanimously supported across both companies.
The demerger aims to segregate business verticals, creating two listed entities for focused O&M and EPC/power evacuation operations.
Key conditions include compliance with SEBI regulations, FEMA provisions, and settlement of outstanding tax demands.