GMR gets NCLT nod to hive off non-airports biz

GMR Infrastructure on Thursday said it has received approval from the National Company Law Tribunal for the restructuring plan involving the demerger of the non-airport business. GMR Infrastructure had unveiled the rejig plan on August 27 last year, to simplify the corporate holding structure and to attract sector-specific global investors.

“The Hon’ble National Company Law Tribunal, Mumbai Bench, has sanctioned the composite scheme of arrangement amongst GMR Power Infra Limited (GPIL NSE 0.38 %), GMR Infrastructure Limited (GIL) and GMR Power and Urban Infra Limited (GPUIL) and their respective shareholders under Sections 230 to 232 of the Companies Act, 2013,” it said in a statement.