In a significant corporate update, G G Engineering Limited has announced the modification of its Scheme of Amalgamation with Integra Essentia Limited, a move that follows the observations made by the BSE Limited and the National Stock Exchange of India Limited. This modification concerns the merger of G G Engineering (the Transferor Company) with Integra Essentia (the Transferee Company) under the applicable provisions of the Companies Act, 2013, particularly Sections 230 to 232.

The Scheme of Amalgamation was first proposed to merge both companies and was subject to regulatory review. After receiving the observation letters from the BSE Limited on December 9, 2024, the company made necessary modifications to the scheme to address the observations raised by the exchanges. These changes reflect the company's commitment to complying with regulatory guidelines and ensuring that the merger process proceeds smoothly.

The modified scheme was formally approved by the authorized Delegated Committee of G G Engineering Limited on December 16, 2024. The committee’s approval marks a crucial step in the amalgamation process, and the company is now in the process of implementing the modified scheme. This includes further steps as per the legal and regulatory requirements outlined under the Companies Act, 2013, and any additional necessary filings with the relevant authorities.

The amalgamation aims to combine the operational strengths of G G Engineering Limited and Integra Essentia Limited, with the goal of enhancing the financial position and operational capabilities of the combined entity. The merger is expected to lead to synergies, operational efficiencies, and enhanced shareholder value for both companies.

Despite the modification to the scheme, G G Engineering Limited assures stakeholders that the overall business operations will remain unaffected and that the modified scheme complies with all legal and regulatory provisions. The company's management is committed to ensuring that the process continues in a transparent manner and is in the best interests of all shareholders and creditors.

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