NCLT Approves Bharti Infratel and Indus Towers Merger

Follow Us

The National Company Law Tribunal has approved the planned merger of tower company Bharti Infratel with Indus Towers, according to a regulatory filing. "...National Company Law Tribunal (NCLT), Chandigarh Bench, vide its order dated May 31, 2019, has sanctioned the scheme of amalgamation and arrangement between Indus Towers Ltd (Transferor Company) and Bharti Infratel Ltd (Transferee company) and their respective shareholders and creditors...," Bharti Infratel said in a BSE filing.




The proposed merger, which will create a mega tower company in India, will also require approval from the Telecom Department.

"The scheme shall become effective on the date on which certified a copy of the order of...NCLT is filed with Registrar of Companies upon fulfilment/waiver of other conditions prescribed in the scheme. The effective date will be communicated to the stock exchanges for further public dissemination as and when the scheme becomes effective," it said.

Last year, Bharti Airtel, Vodafone Group and Idea Cellular (now Vodafone Idea Ltd) had agreed on the merger that will create the largest mobile tower operator in the world, outside China.

The mega tower company born from the merger will have an estimated 1.63 lakh towers in 22 telecom service areas in the country.

Last month, Bharti and Vodafone Group had named Bimal Dayal as the chief executive officer of the tower company proposed to be formed from the merger of Indus Towers and Bharti Infratel and had said the merger process is in "advanced stage of completion".

Recent Comments

Faraz :

Budget phones have degraded more than any other budget phones since pandemic. They are still selling some craps like Helio…

POCO C61 to Launch on March 26, 2024

shivraj roy :

i feel Vi has improved than what it was in 2022 i usually get around 8-10mbps in very heavily dense…

5G Users Consuming 3.6 Times More Data than 4G Users…

biswadeepmondal :

JioAir Fiber is working very well in KPA & HLR. Sadly they don't have any data only plan.

REP: Airtel Expands Network Footprint in Bankura District of West…

Anonymous :

In line with Airtel's ?49 plan that offers 20GB of data for the same duration.

Jio Brings New Rs 49 Plan

SCKPA :

Airtel is claiming so many things. But at our location there have so many places where airtel 2g signal is…

REP: Airtel Expands Network Footprint in Bankura District of West…

Load More
Subscribe
Notify of
1 Comment
newest
oldest most voted
Inline Feedbacks
View all comments