{"id":38313,"date":"2022-04-26T18:00:31","date_gmt":"2022-04-26T12:30:31","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-jsl-merger\/"},"modified":"2022-04-26T18:08:58","modified_gmt":"2022-04-26T12:38:58","slug":"biz-jsl-merger","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-jsl-merger\/","title":{"rendered":"Shareholders, creditors approve Jindal Stainless Steel-Jindal Stainless Hisar Ltd merger"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4250346262\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The merger of Jindal Stainless Ltd (JSL) and Jindal Stainless (Hisar) Ltd (JSHL) into a single entity has been approved by the shareholders and creditors of the two firms.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3846887336\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>As per the regulatory requirements, the two companies convened meetings of their respective shareholders and creditors for approving the Scheme of Arrangement between the two firms, JSL said in a statement on Tuesday.<\/p>\n<p>&#8220;Shareholders and creditors of JSL and JSHL approved the merger &#8216;Scheme of Arrangement&#8217; by a majority,&#8221; it added.<\/p>\n<p>The meetings were organised on April 23 following the order of the National Company Law Tribunal (NCLT), Chandigarh Bench. The companies will now file the second motion application with the NCLT, it said.<\/p><div class=\"trade-content_5\" id=\"trade-1968091377\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>&#8220;We are happy that our shareholders and creditors have approved the scheme for\u00a0merger by an overwhelming majority. This is a testimony to their confidence that merger is value-accretive for all stakeholders of both the companies&#8230; hope to complete the merger in FY23,&#8221; JSL&#8217;s Managing Director Abhyuday Jindal said.<\/p>\n<p>Having a total melting capacity of 0.8 million tonne per annum (MTPA), the Hisar-based JSHL is the largest specialty stainless steel producer in India with a diversified value-added product portfolio.<\/p>\n<p>JSL owns and operates 1.1 MTPA stainless steel plant in Jajpur, Odisha. PTI ABI AJ AJ<\/p>\n<div class=\"trade-after-content\" id=\"trade-199552095\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The merger of Jindal Stainless Ltd (JSL) and Jindal Stainless (Hisar) Ltd (JSHL) into a single entity has been approved by the shareholders and creditors of the two firms. As per the regulatory requirements, the two companies convened meetings of their respective shareholders and creditors for approving the Scheme of Arrangement between the two firms, [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":21790,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31,1789],"tags":[],"class_list":["post-38313","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news","category-trending-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Shareholders, creditors approve Jindal Stainless Steel-Jindal Stainless Hisar Ltd merger - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-jsl-merger\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shareholders, creditors approve Jindal Stainless Steel-Jindal Stainless Hisar Ltd merger\" \/>\n<meta property=\"og:description\" content=\"The merger of Jindal Stainless Ltd (JSL) and Jindal Stainless (Hisar) Ltd (JSHL) into a single entity has been approved by the shareholders and creditors of the two firms. As per the regulatory requirements, the two companies convened meetings of their respective shareholders and creditors for approving the Scheme of Arrangement between the two firms, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/biz-jsl-merger\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-26T12:30:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-26T12:38:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/Jindal-Stainless-Cover-Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"PTI News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"PTI News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/biz-jsl-merger\/\",\"url\":\"https:\/\/tradebrains.in\/features\/biz-jsl-merger\/\",\"name\":\"Shareholders, creditors approve Jindal Stainless Steel-Jindal Stainless Hisar Ltd merger - 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