RHI Clasil, RHI India to be amalgamated with Orient Refractories
Company News

RHI Clasil, RHI India to be amalgamated with Orient Refractories

The Mumbai Bench of National Company Law Tribunal (NCLT) has approved the amalgamation of two subsidiary companies of RHI Magnesita in India, RHI Clasil and RHI India, with Orient Refractories (ORL), a manufacturer and seller of Refractories and Monolithics.

The company told the media that it would provide customers with one single refractory solutions platform offering the industry's most comprehensive product and solutions portfolio as an end to end solution provider.

ORL had approved the proposed scheme on July 31, 2018, and the proposed scheme was also approved by the shareholders and creditors of ORL on May 17, 2019. Subsequently, all the required statutory and regulatory approvals were duly obtained, and the scheme was filed jointly by the three companies with the NCLT at Mumbai for its approval.

However, NCLT rejected the proposed scheme in an order issued on March 2, 2020. After carefully assessing the details of the order issued by the NCLT, ORL moved to file an appeal before the National Company Law Appellate Tribunal (NCLAT).

The NCLAT, in an order dated 19 January 2021, set aside the order passed by the NCLT rejecting the scheme and directed the NCLT to approve the scheme. Subsequently, the scheme was approved by the Mumbai Bench of NCLT.

RHI Magnesita is a global supplier of refractory products, systems and solutions. ORL is a publicly-listed entity engaged in the manufacturing and selling of refractories and monolithics.

Image Source


The Mumbai Bench of National Company Law Tribunal (NCLT) has approved the amalgamation of two subsidiary companies of RHI Magnesita in India, RHI Clasil and RHI India, with Orient Refractories (ORL), a manufacturer and seller of Refractories and Monolithics. The company told the media that it would provide customers with one single refractory solutions platform offering the industry's most comprehensive product and solutions portfolio as an end to end solution provider. ORL had approved the proposed scheme on July 31, 2018, and the proposed scheme was also approved by the shareholders and creditors of ORL on May 17, 2019. Subsequently, all the required statutory and regulatory approvals were duly obtained, and the scheme was filed jointly by the three companies with the NCLT at Mumbai for its approval. However, NCLT rejected the proposed scheme in an order issued on March 2, 2020. After carefully assessing the details of the order issued by the NCLT, ORL moved to file an appeal before the National Company Law Appellate Tribunal (NCLAT). The NCLAT, in an order dated 19 January 2021, set aside the order passed by the NCLT rejecting the scheme and directed the NCLT to approve the scheme. Subsequently, the scheme was approved by the Mumbai Bench of NCLT. RHI Magnesita is a global supplier of refractory products, systems and solutions. ORL is a publicly-listed entity engaged in the manufacturing and selling of refractories and monolithics. Image Source

Next Story
Infrastructure Energy

South West Pinnacle Wins Rs 30 Cr Oman Mining Contract

South West Pinnacle Exploration Ltd has secured a Rs 30 crore contract from Minerals Development Oman (MDO) for mining exploration in concession areas 12B and 13.The two-year project will be carried out via Alara Resources LLC, a JV in Oman. MDO, backed by Oman’s investment authorities, focuses on monetising mineral wealth.The contract covers copper, gold, and chromite and highlights South West Pinnacle’s growing footprint in international exploration and mining services. ..

Next Story
Equipment

Godrej GEG Boosts Intralogistics with AI and Green Tech

Godrej Enterprises Group (GEG) is revolutionising warehouse and factory logistics through its Material Handling Equipment and Storage Solutions arms by integrating AI, IoT, and automation.With 20–25% market share and 85% local sourcing, GEG champions Atmanirbhar Bharat and sustainability. The Chennai plant, a green manufacturing leader, uses RoHS-compliant materials and has slashed energy consumption by 60%.GEG serves e-commerce, FMCG, retail, and cold chains with high-performance racking and electric forklifts. Upcoming IoT-enabled forklifts and telematics solutions aim to improve speed, sa..

Next Story
Infrastructure Urban

Amit Shah Inaugurates Key Projects Across Gujarat

Union Home Minister Amit Shah inaugurated and laid the foundation stone for various projects in Gujarat’s Panchmahal district and Ahmedabad.In Godhra, he inaugurated the Center of Excellence building, sports complex, reservoir, and Miyawaki plantation. In Ahmedabad, he unveiled a new cooperative complex in Adaroda village and a primary school in Juwal.These projects, under the Model Co-op Village scheme, aim to boost education, sustainability, and rural development across the state. ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?