Adani Power Receives NCLT Ahmedabad Approval for Amalgamation of Nine Wholly Owned Subsidiaries
Adani Power Limited has achieved a significant milestone in its corporate restructuring journey after the National Company Law Tribunal (NCLT), Ahmedabad Bench, approved the company’s proposed Scheme of Amalgamation involving nine wholly owned subsidiaries.
The approval is expected to simplify Adani Power’s corporate structure, improve operational efficiency, and streamline the management of its power generation and fuel management businesses. However, the amalgamation of Vidarbha Industries Power Limited (VIPL) is still awaiting approval from the NCLT Mumbai Bench.
NCLT Ahmedabad Sanctions Amalgamation Scheme
In its regulatory filing dated August 5, 2026, Adani Power informed stock exchanges that the NCLT Ahmedabad sanctioned the Scheme of Amalgamation on August 4, 2026.
The approved scheme covers the merger of the following wholly owned subsidiaries into Adani Power Limited:
- Adani Power Dahej Limited (APDL)
- Kutchh Power Generation Limited (KPGL)
- Resurgent Fuel Management Limited (RFML)
- Mahan Fuel Management Limited (MFML)
- Orissa Thermal Energy Limited (OTEL)
- Korba Power Limited (KPL)
- Anuppur Thermal Energy (MP) Private Limited (ATEMPPL)
- Mirzapur Thermal Energy (UP) Private Limited (MTEUPPL)
- Emberiza Infra Park Limited (EIPL)
The proposal was originally announced by the company on October 30, 2025.
VIPL Merger Still Awaiting NCLT Mumbai Decision
While the Ahmedabad Bench has approved the amalgamation of nine subsidiaries, the merger of Vidarbha Industries Power Limited (VIPL) remains pending.
According to the filing, the matter is sub judice before the NCLT Mumbai Bench, and a decision is awaited.
The company stated that it will provide further updates once the remaining approval process is completed.
Appointed Date Fixed as April 1, 2025
Adani Power confirmed that the Appointed Date for the Scheme of Amalgamation is April 1, 2025.
However, the scheme will become legally effective only after all procedural and regulatory requirements specified in the approved scheme are completed.
The company has said it will inform the stock exchanges once the amalgamation formally becomes effective.
Why the Amalgamation Matters
The merger of wholly owned subsidiaries into the parent company is expected to offer several strategic benefits, including:
- Simplified corporate structure
- Improved operational efficiency
- Streamlined administrative processes
- Better resource allocation
- Easier financial reporting and compliance
- Enhanced management oversight across businesses
The subsidiaries involved in the scheme span power generation, fuel management, and infrastructure businesses, making the consolidation an important step toward operational integration.
Part of Adani Power’s Long-Term Strategy
Corporate restructuring through the merger of wholly owned subsidiaries is a common strategy adopted by large companies to improve organizational efficiency and reduce duplication of functions.
For Adani Power, the amalgamation is expected to support:
- Better capital allocation
- Lower compliance costs
- Simplified governance framework
- Improved operational synergies across business units
Since all the entities involved are wholly owned subsidiaries, the restructuring primarily aims at internal consolidation rather than business expansion.