Salasar Techno Engineering Limited has announced a significant update regarding its proposed scheme of amalgamation with Hill View Infrabuild Limited. The company received Observation Letters and No Objection Letters from both BSE Limited and the National Stock Exchange of India Limited on February 4, 2026. These letters signify a crucial step forward in the amalgamation process. The stock exchanges have provided their observations and no objection, enabling Salasar Techno Engineering Limited to proceed with filing the draft scheme with the National Company Law Tribunal (NCLT). The validity of these observation letters is for six months from February 4, 2026, within which the scheme must be submitted to the NCLT. The announcement also details several conditions and disclosures mandated by SEBI and the stock exchanges. These include providing comprehensive details of ongoing adjudication and recovery proceedings, ensuring all liabilities of the transferor company are transferred to the transferee company, and prominently disclosing scheme details to shareholders. The company is required to ensure that all future equity shares issued under the scheme are in demat form. Furthermore, Salasar Techno Engineering Limited must submit a compliance status report detailing adherence to each point of the observation letter.
