NCLT Hyderabad approves amalgamation of Gee Pee Aerospace and Magnatar Aero Systems into parent MTAR Technologies Ltd.
Tribunal dispenses with shareholder and creditor meetings for all three companies due to obtained consents and subsidiary status.
Scheme aims to simplify corporate structure, achieve operational efficiencies, and reduce administrative costs.
No shares will be issued as consideration since transferor companies are wholly-owned subsidiaries of MTAR.