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Gateway Distriparks' merger scheme gets NCLT nod, shares end flat

In Sept 2020, the firm announced a composite scheme of reverse merger to derive operational synergies and cost efficiencies and improve cash flow fungibility between the company and its arms

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Aditi Divekar Mumbai
Logistics facilitator Gateway Distriparks Limited today said that the Mumbai bench of National Company Law Tribunal (NCLT) has approved its petition pertaining to a scheme of amalgamation with two of its subsidiaries-- Gateway East India Private Limited and Gateway Rail Freight Limited.

The company's petition was listed for final hearing before NCLT on December 2, 2021.

Gateway Distriparks Limited is now awaiting the certified copy of the NCLT order and will intimate the stock exchanges upon receipt of the same, it said via BSE filing.

Shares of Gateway Distriparks Limited ended at Rs 270 per share on BSE today, flat

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