Bharti Infratel, Indus Towers merger gets NCLT nod

NEW DELHI: 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.