Debt financing

Logistic player Gateway Distriparks' subsidiary merger scheme gets NCLT nod

Business Standard  

The Mumbai bench of the National Company Law Tribunal (NCLT) has approved logistics facilitator Gateway Distriparks Ltd's petition pertaining to a scheme of amalgamation with two of its subsidiaries - Gateway East India Pvt Ltd and Gateway Rail Freight Ltd. Gateway Distriparks is now awaiting the certified copy of the NCLT order. Gateway East is a wholly-owned subsidiary of Gateway Distriparks and also has a 99.93% stake in Gateway Rail Freight. In September 2020, Gateway Distriparks announced a composite scheme of reverse merger to derive operational synergies and cost efficiencies and improve the cash flow fungibility between the company and its subsidiaries.

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