GOCL Corp receives NCLAT order, NCLT to convene shareholder meeting for merger
GOCL Corp announced NCLAT has set aside NCLT's dismissal order for the merger scheme with HNPCL. NCLT is directed to convene shareholder meetings by October 5, 2026. This allows the merger process to proceed to shareholder consideration.
The NCLAT's decision is a significant step forward in the proposed merger, which is a major corporate action for GOCL Corporation Limited.
The NCLAT order overturns the NCLT's dismissal, allowing the merger process to continue, which is a positive development for the company.
GOCL Corporation Limited announced that it has received an order from the National Company Law Appellate Tribunal (NCLAT), Chennai Bench, allowing their appeal against an earlier order by the National Company Law Tribunal (NCLT), Amravati Bench. The NCLT had dismissed the First Motion Company Scheme Application concerning the merger of Hinduja National Power Corporation Limited (HNPCL) into GOCL Corporation Limited.
The NCLT's dismissal was based on grounds including the appointed date being over a year prior to filing, discrepancies in financial documents, and belated filing. Aggrieved by this, GOCL and HNPCL appealed to the NCLAT.
The NCLAT, in its order dated September 25, 2026, set aside the NCLT's order and directed the NCLT to appoint a Chairman and Scrutinizers, fix their remuneration, and schedule the meetings of equity shareholders within one week, and no later than October 5, 2026. The NCLAT observed that the NCLT's concerns were premature and that the scheme should proceed to the stage where shareholders and creditors can consider it. The tribunal also noted that as GOCL is a listed company, observations from stock exchanges/SEBI were required before approaching the tribunal, which were received in May 2026, leading to the application filing on June 22, 2026.
GOCL Corporation Limited will provide further disclosures as required upon receiving further directions from the NCLT.
What to do with a filing like this
GOCL Corporation Limited filed this with the NSE as a statutory disclosure, categorised under merger. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by GOCL Corporation Limited. Read the original for the full detail.