GECPL replies to allegation of norms violation

ITANAGAR, Mar 31: Responding to the allegation made by the Seppa-Chayang Tajo Road Steering Committee against Gammon Engineers and Contractors Pvt Ltd (GECPL) over violation of norms, the firm on Saturday clarified that it is incorporated under the Companies Act and has its registered office in Mumbai.
In a press release loaded with technical jargon, it said: ‘Pursuant to the scheme of arrangement between Gammon India Ltd (GIL) and the GECPL, it acquired the civil engineering and procurement undertaking (as defined in the scheme) of the GIL, which also includes the Seppa-Chayang Tajo road project.’
The GEPCL stated that the National Company Law Tribunal (NCLT) heard the company’s petitions for approval of the scheme on 22 March, 2017. Thereafter, it said, the company received the copy of the order on 31 March, 2017, approving the scheme with the appointed date as 1 July, 2016. The said scheme came into operation on 31 March, 2017, after a copy of the order was filed with the registrar of companies in Mumbai, it said.
‘Upon the scheme coming into operation, the civil EPC business of GIL, including the Seppa-Chayang Tajo road project, together with all assets, properties, trademarks, pre-qualifications, permits, authorizations, licenses, consents, registrations, privileges, easements, advantages, facilities, employees, debts, liabilities, duties and obligations of every kind, nature and description, more specifically described in the scheme attached to and forming part of the order pursuant to the provisions of Sections 391-394 of the Companies Act, 1956 read with Sections 230-232 of the Companies Act, 2013, stands transferred to and assumed by GECPL, so as to become from the appointed date, ie, 1 July, 2016, the debts, assets, liabilities, obligations of GECPL,’ it said.
‘A copy of the NCLT order and the scheme as approved by the NCLT was submitted to the PWD, and the PWD has in cognizance of the NCLT order transferred the Seppa-Chayang Tajo road project to the GECPL,’ it said.