Elecon Engineering Company gets nod for scheme of arrangement

Elecon Engineering has received an approval from High Court of Gujarat for Scheme of Arrangement between Prayas Engineering, EMTICI Engineering, Elecon Engineering Company, Elecon EPC Projects and their respective shareholders and creditors.

The company is awaiting the copy of the High Court order and the scheme will be effective once the copy of order is filed with the Registrar of Companies, Gujarat.

Elecon Engineering Company (EECL) is a market leader in the domestic gears segment with around 25% market share in the domestic transmission equipment segment.