NCLT Approves Deep Industries’ Acquisition of Kandla Energy

The National Company Law Tribunal (NCLT), Ahmedabad Bench, has approved the acquisition of M/s Kandla Energy and Chemicals Limited by Deep Onshore Services Private Limited, a subsidiary of Deep Industries Limited. The acquisition will take place on a going concern basis under liquidation. This follows an earlier disclosure on August 1, 2024, regarding Deep Onshore receiving the sale certificate for the Corporate Debtor, M/s Kandla Energy and Chemicals Limited. The tribunal’s order, which grants reliefs and concessions for the acquisition, was pronounced on February 4, 2025. Deep Industries Limited will provide further disclosures once the acquisition is completed.