ITC Infotech's Amalgamation of Blazeclan & Cloudlytics Effective Sept 1, 2026
The Scheme of Amalgamation of Blazeclan Technologies and Cloudlytics Technologies with ITC Infotech India Limited is effective from September 1, 2026. The National Company Law Tribunal has sanctioned the amalgamation, with the appointed date being October 1, 2024. BTPL and CTPL are no longer subsidiaries.
The amalgamation is an internal restructuring of subsidiaries and is unlikely to have a significant direct impact on ITC Limited's overall financial performance or stock price in the short term.
The announcement is a routine corporate action regarding the amalgamation of subsidiaries, with no immediate positive or negative financial implications disclosed.
ITC Limited has announced that the Scheme of Amalgamation of Blazeclan Technologies Private Limited (BTPL) and Cloudlytics Technologies Private Limited (CTPL) with its wholly owned subsidiary, ITC Infotech India Limited, has been sanctioned by the National Company Law Tribunal, Kolkata and Mumbai Benches.
Consequently, the Scheme has become effective from 1st September 2026, following the fulfillment of all stipulated conditions. The appointed date for this amalgamation is 1st October 2024.
As of 1st September 2026, both BTPL and CTPL stand dissolved without undergoing winding up and are no longer subsidiaries of ITC Limited.
A plain-language summary of a public exchange filing by ITC Limited. Read the original for the full detail.