Cyril Amarchand Mangaldas (CAM) advised Larsen & Toubro Limited (“L&T”) on the proposed scheme of amalgamation amongst L&T and L&T Power Development Limited (“LTPDL”) and their respective shareholders under Sections 230 to 232 of the Companies Act, 2013 (“Scheme”) approved by the boards of L&T and LTPDL on July 28, 2026. The Scheme provides for, inter alia, the amalgamation of LTPDL with and into L&T and the transfer of the undertaking of LTPDL to L&T as a going concern, by way of merger, followed by the dissolution without winding up of LTPDL and the consequent cancellation of equity shares held by L&T in LTPDL.
The transaction will lead to simplification of L&T’s group structure, enhanced operational clarity and optimised corporate holding structure, better aligned with L&T’s business requirements.
The transaction was led by Bhargav Joshi, Partner; with support from Saumya Sharma, Senior Associate; Ayushi Agarwal and Dhananjay Sreeram, Associates.
Tapan Deshpande, Director – Corporate Litigation; and Aekaanth Nair, Principal Associate — Designate; assisted in litigation aspects.
