Cyril Amarchand Mangaldas has advised Larsen & Toubro on the proposed scheme of amalgamation amongst L&T and L&T Power Development Limited (LTPDL) and their respective shareholders under Sections 230 to 232 of the Companies Act, 2013 approved by the boards of L&T and LTPDL on July 28, 2026.
The scheme provides for, inter alia, the amalgamation of LTPDL with and into L&T and the transfer of the undertaking of LTPDL to L&T as a going concern, by way of merger, followed by the dissolution without winding up of LTPDL and the consequent cancellation of equity shares held by L&T in LTPDL.
The restructuring comes after L&T’s recent move to exit the power-development asset Nabha Power. In February 2026, L&T said LTPDL had agreed to sell its entire stake in Nabha Power to Torrent Power for INR 3,660.87 crore.
The transaction will lead to simplification of L&T’s group structure, enhanced operational clarity and optimised corporate holding structure, better aligned with L&T’s business requirements.
CAM’s transaction was led by partner Bhargav Joshi, with support from senior associate Saumya Sharma, and associates Ayushi Agarwal and Dhananjay Sreeram.
Director – Corporate Litigation Tapan Deshpande, and principal associate – designate Aekaanth Nair assisted in litigation aspects.
