Archive · 2 Oct 2026
NCLT Approves GE Power India-JSW Energy Thermal Business Transfer
The National Company Law Tribunal approved a plan involving GE Power India and JSW Energy.
GE Power India will transfer part of its thermal power equipment business to JSW Energy.
This business makes parts such as boiler components, pressure vessels, pipes and coal mills.
The operations are located at GE Power India’s Durgapur facility.
JSW Energy will give its shares to eligible GE Power India shareholders as part of the deal.
The exchange will be 10 JSW Energy shares for every 139 GE Power India shares.
Most shareholders and creditors of both companies voted in favor of the plan.
GE Power India expects the deal to simplify its operations, while JSW Energy expects manufacturing and business benefits.
The NCLT approved the demerger of GE Power India’s identified thermal equipment business into JSW Energy.
The transferred business includes manufacturing power boiler components, pressure vessels, piping and coal mills at the Durgapur facility.
The tribunal’s order was pronounced on October 1, 2026, with an appointed date of July 1, 2025.
GE Power India and JSW Energy shareholders and creditors approved the scheme by the requisite majorities.
JSW Energy will issue 10 fully paid-up shares for every 139 GE Power India shares under the approved entitlement ratio.
- Who
- GE Power India Limited, JSW Energy Limited and the National Company Law Tribunal.
- What
- The NCLT sanctioned a scheme transferring GE Power India’s identified thermal power equipment business to JSW Energy.
- When
- The order was pronounced on October 1, 2026; the appointed date is July 1, 2025.
- Where
- The business being transferred operates at GE Power India’s Durgapur facility.
- Why
- The demerger is intended to help GE Power India streamline operations and reduce costs, while enabling JSW Energy to enter boiler pressure-parts manufacturing and create synergies with its thermal power projects.
- Tribunal
- National Company Law Tribunal
- Order date
- October 1, 2026
- Appointed date
- July 1, 2025
- Transferred operations
- Manufacture and supply of power boiler components, pressure vessels, piping and coal mills
- Facility
- Durgapur facility
- Share entitlement ratio
- 10 JSW Energy shares for every 139 GE Power India shares
- GE Power India shareholder approval
- Approximately 99.99% of valid votes cast
- JSW Energy shareholder approval
- 99.9999% of valid votes cast