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APSEZ’s plan to buy Sarguja Rail Corridor approved by NCLT

Sarguja Rail Corridor

NCLT gave its approval to APSEZ’s plan to buy Sarguja Rail Corridor

Sarguja Rail Corridor – According to APSEZ, all rail assets would now be consolidated under a single business entity, Adani Tracks Management Services Pvt Ltd. 
 
Adani Ports and Special Economic Zone (APSEZ) announced on Sunday that the National Company Law Tribunal (NCLT) has accepted the company’s composite scheme to purchase Sarguja Rail Corridor Pvt Ltd (SRCPL), which would take effect on April 1, 2021. 
 
According to APSEZ, all rail assets would now be consolidated under a single business entity, Adani Tracks Management Services Pvt Ltd. “This consolidation allows APSEZ to engage in Indian Railways PPP (public-private partnership) projects without having to compete with similar firms in the Adani portfolio, a posture that is fully aligned with minority shareholders’ equity interests,” it added. SRCPL will be consolidated, according to the announcement. 

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