Gujarat State Petronet Limited (GSPL) has announced revisions to its Composite Scheme of Arrangement and Amalgamation. This scheme involves Gujarat State Petroleum Corporation Limited (GSPC), GSPL, GSPC Energy Limited (GEL) as Transferor Companies, Gujarat Gas Limited (GGL) as the Transferee/Demerged Company, and GSPL Transmission Limited (GTL) as the Resulting Company. The revisions are in response to directions from the Ministry of Corporate Affairs (MCA) to address observations from the Regional Director's office concerning the re-allocation of authorized share capital from GGL to GTL upon demerger. The company has modified Clauses 60 and 63 of the Scheme to comply with these directions. GSPL has clarified that these revisions are technical in nature and do not materially affect the Scheme as approved by the shareholders. The rights, interests, or entitlements of the shareholders of the involved companies remain unaffected by these changes. The modified Scheme and the Letter from the MCA have been uploaded on the company's website.
