Approval Granted for Marathon Group’s Composite Scheme Amalgamation
Published on March 31, 2025, at 11:12 PM IST
Overview of the Scheme
Marathon Group has received approval from its Board of Directors for a Composite Scheme Amalgamation that encompasses several entities within its portfolio. The approved scheme involves the amalgamation and arrangement among:
- Matrix Water Management Private Limited
- Sanvo Resorts Private Limited
- Marathon Realty Private Limited
- Matrix Enclaves Project Developments Private Limited
- Matrix Land Hub Private Limited
- Marathon Nextgen Realty Limited
- Marathon Energy Private Limited
This decision aims to consolidate these entities while considering the interests of their shareholders and creditors.
Key Details of the Amalgamation
The amalgamation is set to be executed with an appointed date of January 1, 2025, and it is contingent upon compliance with relevant laws, including the approval of the company’s members and the consent of the National Company Law Tribunal (NCLT) along with other regulatory authorities.
The primary objectives of the scheme include:
- Reduction of the number of legal entities within the Marathon Group.
- Simplification of the group structure.
- Minimization of managerial overlaps to eliminate redundancy in administrative functions.
Advantages for Shareholders
This restructuring is projected to benefit public shareholders by unifying high-value projects from various promoter group entities under the umbrella of the listed entity and its wholly owned subsidiary, MEPL. This consolidation is expected to provide a more streamlined approach to management and enhance operational efficiencies.
Legal Advisory
Rajani Associates, Solicitors, have been appointed as the legal advisors for the transaction, aiding in navigating through the regulatory landscape of the amalgamation process.
