Gallantt Metal Limited (BSE:532726) entered into an agreement to acquire 18 MW Power Plant Unit of Gallantt Ispat Limited (BSE:533265) for INR 350 million on January 18, 2020. As of December 23, 2020, Gallantt Metal successfully filed application with the Hon'ble National Company Law Tribunal, Kolkata Bench and Delhi Bench in the matter of transaction. The Board has approved acquisition under Slump Sale, and this is a part of Scheme of Amalgamation as approved by the Board of Directors. As of March 8, 2021, transaction is pending approval of secured and unsecured creditors of Gallantt Ispat Limited. As per the direction from the Hon'ble National Company Law Tribunal, Principal Bench, New Delhi, meeting of the Secured and Unsecured Creditors of Gallantt Ispat Limited, to be held on April 8, 2021. As of May 24, 2022 the amalgamation was approved by National Company Law Tribunal, New Delhi. The expected closing date for the said transaction is June 7, 2022.