Gammon India announced that it have received the certified true copy of the order of the National Company Law Tribunal, Mumbai Bench on 18 April 2017 approving the Scheme of Arrangement between Gammon India ('GIL' or 'the Transferor Company') and Transrail Lighting ('TLL' or 'the Transferee Company') and their respective shareholders and creditors ('the Scheme'). A copy of the said order has been filed with the Registrar of Companies ('ROC') Mumbai, on 19 April 2017. The Scheme of Arrangement has come into effect upon filing of the copy of order with the ROC.

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Gammon India announced that the Board of Directors of the Company at its meeting held on 11 April 2017 has considered and approved certain restructuring proposals -

To sell Gammon House for consideration of Rs 10 lakh to Gammon Retail Infrastructure, a wholly owned subsidiary of the Company.

To sell Civil EPC Business of the Company for consideration of Rs 10 lakh to Gammon Transmission, a wholly owned subsidiary of the Company.

To sell upto 49% of its stake in subsidiary - Gammon Power to Gammon Retail Infrastructure, a wholly owned subsidiary of the Company for consideration of Rs 5 lakh.

To sell upto 90% of its stake in its material subsidiary - Metropolitian Infrahousing to its wholly owned subsidiary - Franco Tosi Hydro for a consideration of Rs 20 lakh.

To sell upto 90% stake in each of its subsidiaries viz (i) Gammon Transmission, (ii) Franco Tosi Hydro and (iii) Gammon Retail Infrastructure in favour of strategic investors.

To sell off the Company's shareholding in indirect subsidiary - Preeti Townships in favour of strategic investors at fair value.

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Gammon India announced that the National Company Law Tribunal, Mumbai Bench ('NCLT') has at the hearing held on 30 March 2017, approved the Scheme of Arrangement between Gammon India ('GIL' or 'the Transferor Company') and Transrail Lighting ('TLL' or 'the Transferee Company') and their respective shareholders and creditors ('the Scheme') for transfer of the Company's T&D Undertaking.

A certified true copy of the order is awaited from the NCLT. A copy of the said order will be filed with the Registrar of Companies ('ROC') Mumbai, as soon as the same is received by the Company. The Scheme will come into effect upon filing of the copy of order with the ROC.

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Gammon India announced that the Board of Directors of the Company at its meeting held on 20 February 2017 has permitted Gammon Power to further sell/dispose off the balance 26.06% of the equity shares of Gammon Infrastructure Projects at the market price, in one or more tranches out of which, the Board has subject to shareholders and all regulatory approvals, expressed its intention to acquire up to 20% of the said equity shares of Gammon Infrastructure Projects from Gammon Power at the market price in one or more tranches.

The said equity shares of GIPL have been currently pledged by Gammon Power to the Company's lenders as security for loans approved to the Company.

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