Larsen & Toubro (L&T) has received approval for scheme of arrangement for merger of Wholly-owned Subsidiary -- L&T Shipbuilding (LTSB) with the Company. The Scheme is subject to necessary statutory and regulatory approvals including the approvals of the National Company Law Tribunal/other regulatory authority and the respective Shareholders and Lenders/Creditors of each of the companies involved in the scheme. The Board of Directors of the Company at its meeting held on May 11, 2019 has approved the same.
L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $18 billion in revenue.
